USDJPY Forecast April 25, 2014, Technical Analysis
The USDJPY pair fell during the bulk of the session on Thursday, but found enough support right around the 102 level to turn things back around and form a hammer.
The USDJPY pair fell during the bulk of the session on Thursday, but found enough support right around the 102 level to turn things back around and form a hammer.
EURUSD failed to break above 1.3864 resistance, indicating that the pair remains in downtrend from 1.3905, the rise from 1.3785 could be treated as consolidation of the downtrend.
AUDUSD continued its downward movement from 0.9461, and the fall extended to as low as 0.9295.
The AUDUSD pair went back and forth during the session on Monday, essentially settling nothing.
USDJPY is moving inside an ascending trend channel on its 4-hour time frame, indicating that further gains could be in the cards for the pair.
EURUSD remains in downtrend from 1.3905, the rise from 1.3790 could be treated as consolidation of the downtrend.
AUDUSD’s downward movement from 0.9461 extended to as low as 0.9314.
The EURUSD pair went back and forth during the session on Tuesday, forming a very neutral candle.
The USDJPY pair rose during the session on Monday, bouncing off of the obvious support level near the 101.25 level.
EURUSD broke below 1.3850 support, indicating that the uptrend from 1.3672 had completed at 1.3905 already.