Technical Analysis – DayTradeIdeas

Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.

CADJPY made a low for the day at support at 9575/55 & shot higher to my targets as far as 9740, reaching 9800. Resistance at 9810/30. Shorts need stops above 9850. A break higher is a buy signal targeting 9900 & 9930/40.

Shorts at 9810/30 can target 9760/55 & 9710/00.

AUDJPY made a low for the day just 5 pips above support at 8770/50 & headed higher as expected to targets of8810 & 8860/70. A high for the day only 13 pips above. First support at 8830/10 could hold the downside this morning at least. However the best support is at 8780/60. Longs need stops below 8740.

USDJPY beat strong resistance at 131.50/70 for a buy signal targeting 132.30/35 & 132.75/85.

A high for the day exactly at this target. The pair are overbought short term & hitting resistance so could turn lower today. However I think shorts are risky. I prefer to wait for a dip to 131.80/60 for a buying opportunity with stop below 131.30.

If you do try a short, stop above 133.20. A break higher targets 133.60/70 & 134.00/10.

NZDJPY shorts at strong resistance at 8140/60 stopped on the break above 8180. We have reached 8225 & can target 8280/90 now. (A high for the day only 3 pips below). Support at 8180/60. Longs need stops below 8130.

Please email me if you need this report updated or Whatsapp: +66971910019 – To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk

Jason Sen, Director

https://www.daytradeideas.co.uk

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