Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Target Trading: Are USD/JPY Bulls Back?

ByScott Barkley
Published 07/26/2014, 12:37 PM
Updated 10/05/2023, 10:02 PM

EUR/USD
What ProAct Forex Target Traders See: We are currently sitting at 1.3432. The pair is in a nice channel inside the downtrend. We are looking for continuation to the S6 at 1.3354 and a corrective bounce there for a continuation to 1.3110. The average daily true range (ATR) for the pair currently is 40 pips.


USD/JPY
What ProAct Forex Target Traders See: We are currently at 101.84. We are still in a range and the failure of the descending wedge break could mean the bulls are back. If so look for the R4 at 103.09 as the target. A break down targets the 0.618 Fibo at 99.83. The average daily true range (ATR) for the pair currently is ONLY 27 pips.


GBP/USD
What ProAct Forex Target Traders See: Cable is currently sitting at 1.6977. We are still making new highs but reacted nicely at the 0.618 Fibo ( which ultimately may be a right shoulder of a head and shoulders reversal). Look for the continuation to the R9 at 1.7394. The average daily true range (ATR) for the pair currently is 57 pips.


AUD/USD: A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is at 0.9396 and attempting a trend breakout after a head & shoulders reversal pattern. IF it continues look to break the neckline and then go to the former R6 target at the 0.382 Fibo and then the 0500 Fibo at 0.9198 which is a support area. The average daily true range (ATR) for the pair currently is 46 pips.EUR/USD Daily ChartUSD/JPY Daily ChartGBP/USD Daily ChartAUD/USD Daily Chart

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.