- USD/JPY requires a break at 134.20 to then target 132.52. Lines at 136.00’s dropped to 1.3588 and continues the long slide lower.
- GBP/JPY 163.00’s also drops to 162.00 and specifically 162.09, above targets 164.00’s. Oversold next week begins at low 158.00’s.
- EUR/JPY must hold below 141.50 to target 140.13 easily.
- AUD/JPY must trade below 91.39 and NZD/JPY 84.29. CAD/JPY trades between 99.19 and 97.59.
- GBP/USD oversold begins at 1.1802 and higher requires a break above 1.1938.
- AUD/USD hold a die or die position at 0.6731 and NZD/USD at 0.6210.
- EUR/USD remains the outlier to AUD, NZD and GBP at 1.0424.
- GBP/USD was first to break to lead AUD, NZD and EUR/USD lower.
- EUR/NZD traded to tops at 1.6937 yesterday and 1.6934 today. Once EUR/NZD ranges are firmly established, ranges hold for many weeks to allow continuous longs or shorts. For EUR/NZD since December, 1.6900’s tops offered many shorts and will last all January.
- EUR/AUD trades to 1.5300’s and 1.5200 target on a break of 1.5486. EUR/AUD is similar to EUR/NZD as ranges once established hold for many weeks to offer multiple longs and shorts.
Overall currency markets trade in a fairly neutral position and waits on the DXY resolution to break 104.45 or 105.34 and 105.76.