It’s Friyay, y’all!
Get ’em while they’re hot!
USD/JPY is about 25 pips away from the 103.75 zone that lines up with a support level that has been keeping the bears contained since mid-November.Think you already missed the bus? It’s ight, the dollar still has some ways to go before hitting the 107.70 range resistance level.
If you’d rather sell the dollar against the yen, though, then you should at least wait until USD/JPY drops below its range support and then aim for a retest of the 103.25 or 103.50 inflection points.
Here’s one for the trend playas out there!
AUD/NZD is flirting with the 1.0540 zone, which is right smack at the descending channel and 100 SMA resistance on the 4-hour time frame.Trend warriors who are betting on further Aussie weakness can short at current levels and aim for the 1.0425 previous lows.
Aussie bulls, on the other hand, can also plan trades around a potential upside breakout above the 100 and 200 SMAs.
Whichever bias you end up trading, make sure to use wide stops! Comdoll crosses usually see volatility spikes that can take out your stops if you’re not careful!