Daily Chart Art – March 28, 2012

EUR/JPY: 4-hour

EUR/JPY 4-hour Chart

Fans of trend lines are gonna love this one on EUR/JPY. It’s been holding for ages! If you’ve got the patience for it, it might be a good idea to wait for price to touch it again. It could present another prime buying opportunity near the 110.00 mark, so hang tight but be on the lookout for breakouts as well!

GBP/JPY: 4-hour

GBP/JPY 4-hour Chart

When it comes to GBP/JPY, keep your eyes on the 00s! The pair has found resistance at 133.00 over the past couple of weeks, and 130.00 has acted as an area of interest as well. Over the coming days, price could revisit these levels, so it would be a good idea to stay on the edge of your seat as it draws closer to these critical areas.

AUD/JPY: 4-hour

AUD/JPY 4-hour Chart

Last but not least is this sweet range that has formed on AUD/JPY. With support at the 85.00 handle and resistance at 88.00, the pair has been bouncing up and down over the past month or so. Right now, it’s right smack in the middle of nowhere, so you have plenty of time to monitor this pair and conduct further analysis. Look for buying opportunities to present themselves near 85.00 and selling opportunities at 88.00. Good luck, homies!

Before you get carried away with all these chart patterns, remember that technical analysis is only half the story.

To get the complete picture and avoid getting blindsided by economic data, you also have to do your fundamental analysis.

Lucky for us, Pip Diddy fills us in on what we need to know about fundamentals with his Daily Forex Fundamentals.

  • Wagnermr14

    Didn’t mention poss Head n Shoulders pattern in AUDJPY. 

    • bigpippin

      Good eye, bro! Head and shoulders pattern is definitely a possibility as well, with neckline around 85.00.

  • ケーちゃん

    Alrite! JPY crosses, my favorite.

  • pip2k12

    Hi guys, double top on gbp/jpy from 21st/27th, combined with failing to break the pivot point around 131.71, the pair is now falling, macd and parabolic sar pointing down, am now short @ 132.281, stoch also pointing down now.. looking to take profit around the 130.00 level