Ready for the weekend?
I know y’all aren’t done trading for the week because USD/JPY and AUD/USD’s setups are still waiting to be taken!
Check them out!
I don’t know if you’ve noticed but the dollar bulls are putting up a good fight at the 109.50 range support that’s been around since the start of the month.The oscillator isn’t helping the bulls’ case for now but MarketMilk did indicate that USD/JPY is a “buy” in the short-term.
Buying at current levels would set you up for a decent win if USD/JPY stays inside its month-long range.
The 110.00 mid-range resistance is a good target if you’re in it for short-term profits but you can also aim for the 110.60 range resistance zone if you’re confident in the dollar making more pips against the yen.
But what if USD/JPY extends its downswing? Watch out for a clear break below the support to see if the dollar would head for its June lows next.
Comdoll warriors gather ’round!AUD/USD looks ready to bail from the .7400 major psychological handle, which is right smack at the 38.2% Fib retracement of July’s downswing as well as a trend line resistance that’s been keeping the bulls in check since mid-June.
Meanwhile, comdoll bulls who believe that AUD/USD is due for a reversal can watch out for a break above the trend line resistance that we’re watching and target previous areas of interest like .7485 or .7600.