FXOptimax - Analytics

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    8th June 2016 Market Outlook

    Euro Yen – EUR/JPY rejected its 122.35 resistance level yesterday which could potentially push price down in the coming sessions. Given that the overall trend is still bearish at the moment, traders may consider shorting this market to ride on the bearish trend. There’s no immediate support level below which offer traders huge profit margin to trade the short side.

     

    EURJPYrH4

     

    Aussie Yen – AUD/JPY once again pullback into its 80.75 resistance level after price bounce off from its 78.35 support level. Traders may consider shorting at the 80.75 resistance level as the overall market trend is still bearish at the moment. Ideally we would prefer to see price rejects the 80.75 resistance level before shorting for a safer entry.

    AUDJPYrH4

     

    Loonie Dollar – USD/CAD continue to decline lower and we have a few resistance level above current price which traders may hunt for potential shorting opportunity as the long term trend is still bearish at the moment. The nearest resistance level is located at 1.2770 which could potentially offer some short term trading opportunities in the upcoming trading sessions.

    USDCADrH4

    Posted on 2016-06-08 06:30:24


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