Forex4you Technical Analysis

AUD/USD: technical analysis
The Aussie pair has been going sideways since yesterday although it will probably break higher eventually. The 3 x 0.001 chart is showing an upside target of 1.0780 whilst the smaller 3 x 0.0005 chart has a target of 1.0575. A line of resistance at 1.0580 could provide the initial target with 1.0780 potentially achievable later.



USD/JPY: technical analysis
Previous forecasts that growth would continue didn't confirm. The price is currently pulling back downwards to 83.10 support level, mentioned previously as the final barrier for the "bearish" trend. However, indicators suggest further decline, which gives reasons assume that support 83.10/00 level may be breached as well. If it is, the price will probably decline to 82.50/60 or even to 82.00 level. Should 83.00/10 support level stop a decline and reverse the trend, we'll be expecting growth to 85.55/60 resistance level. Support 81.90/60 breakout would indicate the "bearish" strength and give reasons to expect a reversal down and new minimums to be tested.



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Analysis by: Joaquin Monfort
Forex4you analyst

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