USDJPY 15 MINUTE CHART
Source: The Amazing Trader
This is what I meant when I said use short-term charts to trade USDJPY (note Amazing Trader logic pointed down).
“[Israel=Hamas ceasefire] negotiations scheduled in Cairo are expected to be postponed until the end of the week due to a lack of progress in contacts.”, according to Sky News Arabia citing Israel official and dip;omats via Israeli Broadcasting Corp
Source: Newsquawk.com
XAUUSD extends record high above 2510. No sign of concern in other markets.
USDJPY 1 HOUR CHART – LIQUIDITY?
USDJPY continues to be the most volatile currency as can be seen on this chart, where the one hour candle had a range of 146.53-145.84 (in the absence of news) with a close at 146.33 IN WHAT HAS BEEN STILL AN INSIDE DAY.
Whatever the case, this follows yesterday’s range of 148.05-145.18– close at 146.71
I am not sure what this suggests other than pockets of less liquidity.
Use short-term charts to trade this currency.
This is the latest update from a long time, highly respected Global-View member who called the top at USDJPY 162. I thus nicknamed him the savvy trader who has been kind enough to share his latest view and strategy.
EURUSD 4h
Resistances : 1.10750 , 1.11350 & 1.11650
Supports : 1.10550 , 1.10400 & 1.09950
It needs to take out 1.10750 to be able to continue up in this very wave.
Failure would call for a correction , but it can be more time consuming then real downward one.
1.10550 is most important for that scenario to hold.
Channels are pretty clean, so make your own conclusions.
EURGBP 4 HOUR – BOUNCE FROM .8500
Whatever order flow that was driving EURGBP lower has apparently been filled and this has seen a bounce from just above .8500.
This has helped give EURUSD a bid after lagging due to selling in this cross.
Currently testing .8530, a break above would end the latest leg down.
Trendline is the key level above it.
For those who prefer active approaches vs position trading, one would think Dollar sees lingering pressure until Jackson Hole. I made money this morning on the long side but it was against the grain and dicey with the way price behavior transpired. Short side is better so far. This pair is really volatile of late so if you are courageous or pretty good at this then sure, get in there and fight it out. Preferred method in such an environment is to wait for price parameters to be pierce and catch the retrace but it will almost surely go back through the pierce. This is not position trading obviously.
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