Daily Price Action

Category Archives for Free Forex Trade Setups

USDJPY: Key Levels to Watch Amid Tight Range

USDJPY key levels amid tight range on the daily chart

USDJPY is sitting on a must-hold level for buyers.

I mentioned this trend line on January 11th.

It extends from the November 2018 high and connects with the April 2019 high as well as several highs last December.

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EURJPY Future Direction Hinges on 121.00

EURJPY feature image for January 23, 2020

I discussed the EURJPY in Saturday’s Forex forecast video.

The key takeaway from that analysis was the ascending channel that extends from the 2019 low that developed last September.

It’s the same channel I pointed out on January 6th.

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EURUSD Trades Above Key Support Ahead of Thursday’s ECB

EURUSD support and resistance ahead of ECB

The EURUSD is holding above key support ahead of Thursday’s ECB decision.

The confluence of support at 1.1075 is the same one we’ve discussed since December 27th of last year.

It’s also the area that needs to break down in order for the EURUSD to regain its bearish momentum.

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(Video) CADJPY: Possible Short Opportunity in the Works

CADJPY feature image for 1.22.20

Can the CADJPY reach the top of a channel that has been in place for two years?

Or will the pair reverse before ever reaching that channel top?

Watch the video in this post to see my thoughts.

Be sure to also scroll down for more commentary and an annotated chart.

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AUDJPY: Will This Channel Play Out Like the First?

AUDJPY feature image for 1.21.20

The AUDJPY, like other yen crosses, has been consolidating for several weeks.

We have also seen a short-term uptrend develop since the August 2019 low.

This upward movement is overshadowed by a downtrend that has been in place since early 2018.

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