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.
USDJPY first resistance at 135.40/60. Shorts need stops above 135.75. A break higher can retest last week’s high at 136.60/70.
Shorts at resistance at 135.40/60 target 134.75/65, perhaps as far as good support at 134.35/15. Longs need stops below 134.00.
EURJPY beat first resistance at 142.65/85 so holding above here sees prices headed towards 143.50/70, perhaps as far as the June high at 144.15/25
Support at 142.85/65. A break lower targets 142.40/30, perhaps as far as strong support at 141.60/40. Longs need stops below 141.30. A break lower is a sell signal targeting 141.00 & 140.50/40.
NZDJPY break above resistance at 8500/20 can target 8580/90. Above 8600 look for 8650/60.
Support at 8455/35. Longs need stops below 8410.
AUDJPY minor resistance at 9400/9420. A break higher targets 9450/60, perhaps as far as 9520/30.
Good support again at 9270/50. Stops below 9230. A break lower is a sell signal targeting 9160/50, 9100/9090 & perhaps as far as 9060/50.
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Jason Sen, Director