Hi traders!

USDJPY – Pair managed to take out the 100 level and managed to stay above that level for a while yesterday.dollar yen forex blog

Candle close is blue and with a short body. Not really a convincing bull to me but the bulls do seem persistent with several blue candles over last few days.

I will not be surprised however if the pair decides to retrace lower today to test the 15 and 21 ema.

Not calling any trade here as its Friday and signal is not so strong.

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EURUSD – Pair closed with a red candle and a long red body. It closed exactly at the lower line of the uptrend line.

Not an easy call to make here. It can go both ways.

Bulls might come in to protect from a trendline break.

Bears might turn bolder with that long red candle.

Not so clear, so I am staying out.

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GBPUSD – We are in a tight spot right now.

We have a red candle close showing a rejection from a downtrend line. The bears might take this pair lower today but below we have the bottom line of an uptrend line.

Stochastics is still pointing up but Macd doesn’t look really good for the bulls.

Mixed signals. Not very good for a trade.

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AUDUSD – We can see profit taking yesterday as some bulls closed out their trade, allowing the bears to exert some control with the bar closing red yesterday.

Like I’ve said yesterday, pair might retest the line it broke out from before continuing upwards.

Lets observe.

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EURAUD – With a double top in place we might still see this pair lower.

Interesting that yesterday’s close was a shooting star, but it’s appearing not at the top of an uptrend but in the course of a down move, indicating that at this level, there is some uncertainty which I believe is caused by the fact that the price is dead smacked on a support level made during June and July.

Bulls might come in here but I would wait for a pintail candle to form before taking a buy trade for a counter trend move.

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GBPJPY – Spinning top formed yesterday. Bears might come in today to bring this lower.

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AUDJPY – Yesterday’s close is a small red candle, any bearish move from here is corrective in nature.

Bulls might come in again when the correction lower is over.

Buy on dips strategy can be employed here.

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EURGBP – Pair is in a downtrend and is near a support level. More moves down today can be expected to sub 84 level.

I will not be joining the bears here. My strategy here would be to wait for a signal to go on a counter trend move back up.

Patience require here.

Ardy

Ad Victoriam!