Japanese Yen – USD/JPY continue to rally higher despite all the resistance levels in the lower time frames. The short term momentum is clearly bullish at the moment and price is likely going to continue to rally higher into its upper end of the trading range at 114.85–114.45 resistance area. If price pullback into its 114.85–114.45 resistance area and rejected it, traders may then consider shorting this market as price is likely going to continue to move lower in the coming weeks.
Aussie Dollar – We have a rejection of lower prices in AUD/USD yesterday which could potentially push price back higher. However, there’s no obvious support level of the rejection thus conservative traders may consider waiting the market to decline further into its 0.7420–0.7380 support area before buying into this market while aggressive traders may consider buying into yesterday price rejection to ride on the bullish momentum.
Swedish Krona – USD/SEK continue to rally higher and is approaching its 8.3400 resistance level. GIven that the momentum is bearish at the moment, traders may consider shorting around the 8.3400 resistance level to ride on the bearish momentum. There is no immediate support level below until 8.1000 which offer traders massive profit margin to trade the short side.
Posted on 2016-03-25 06:30:17