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USD/JPY Targets Brexit Highs

The USD/JPY is finally trending up after a long bear market. After some Dollar positive comments at Jackson Hole the pair got a lift. We’re now trading 336 pips higher from the lows marked on August 26th.
Where can we look for a potential target? The average monthly range in this pair has been 520 pips. But that’s low to high, not open to close. A more conservative target would be in the 300 pips range.
On our chart above we see a level that qualifies. The pre-Brexit highs at 106.80 are importa…
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Clashing Trends in the EUR/JPY

We're having two contradicting trends develop in the EUR/JPY. On the shorter time-frame, a tentative bullish trend has developed in the past few days. See the 4h chart below. We're now up over 250 pips from the lows recorded last Friday.
But things are looking quite the opposite on the longer-term charts. Note the strong downward trend on the weekly chart below. Since peaking out at 149.78 in December of 2014, the EUR/JPY has been in a bearish trend. The low was hit at 109.48 this June, post-Bre…
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fxsurprise8 avatar

So far my forecast has been generally correct but prices are still far from my target. Let me explain. In September the EUR/JPY hit a high of 116.07 and a low of 112.07.

But those extremes don't tell the whole story. Most of the month the EUR/JPY spent in the middle of this range. We're currently quoted at 113.69, close to the 50% mark.

Unfortunately due to large selling on two days this month (September 20th and 21st) the neutral point has shifted somewhat lower and for the past week we've been drudging along in this 113-114 range. I will need the pair to rally to bring me close to target.

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Large Gains for the Kiwi

The NZD/USD spent most of last year in the dulldrums. The currency fell from 0.7800 to a low of 0.6071 before retracing somewhat. We are currently quoted at 0.6980.
But there are signs that a recovery is under way. On the chart below we can see that the NZD/USD has just cleared an important resistance area around 0.6900. After two-three false breaks, we're finally leaving this resistance behind.
I'm placing my bet on 0.7381, this is around 400 pips away from the current price. The average monthl…
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wisdom_consultant avatar

good analyses

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