Open trading account 
USD/JPY closed last week below the important 105 - 105.30 support. Calendar-light and holiday-shortened week ahead probably means lower participation and some choppy price action, though a substantial move in either direction wouldn't come as a surprise. 102.5 - 103 remains the next target on the downside.
al_dcdemo's Blog
Aussie into holidays on its lows
Australia kept triple A credit rating this week, according to all there major agencies. That didn't prevent Aussie from falling further, though the momentum has waned noticeably ahead of the holidays.
The pair is finding some support near 61.8% retracement of the December 2015 - April 2016 upswing, the long-term trendline zone, drawn off of 2001, 2008 and 2016 lows, and the May 2016 low. 0.7250 is the initial resistance.
The pair is finding some support near 61.8% retracement of the December 2015 - April 2016 upswing, the long-term trendline zone, drawn off of 2001, 2008 and 2016 lows, and the May 2016 low. 0.7250 is the initial resistance.
Sideways start to the week
Currencies started the week sideways, which is not entirely surprising with a very light calendar on Monday and Tuesday plus New Zealand and China on holidays.
There was some USD and JPY buying right at the open but the moves were reversed promptly, producing little follow through so far after the solid U.S. jobs report on Friday.
There was some USD and JPY buying right at the open but the moves were reversed promptly, producing little follow through so far after the solid U.S. jobs report on Friday.
EURo saw some activity on a slow day
It was a sideways day in the FX markets yesterday and more of the same is expected for today with France, Canada and U.S. on holidays. Chinese data, UK jobs report and ECB president Draghi's speech may liven things up a bit, particularly in case of a bigger deviation from consensus.
Euro, which was relatively vivid, broke below 1.07, trading to as low as 1.0675, before it pulled back. Long term trendline comes in near 1.0650 and, if it goes, April (~1.0520) and March (~1.0460) lows will come int…
Euro, which was relatively vivid, broke below 1.07, trading to as low as 1.0675, before it pulled back. Long term trendline comes in near 1.0650 and, if it goes, April (~1.0520) and March (~1.0460) lows will come int…
Markets subdued
Major pairs were trading in tight ranges overnight, which is not surprising at all as the market activity is expected to be subdued today due to holidays in many countries. But there's always potential for outsized moves on lower liquidity in these markets.
Euro cleared stops below 1.10 shortly after the open, but there was no follow through beyond 1.0965 as the pair quickly reversed back towards the big level. It went sideways from there and is awaiting European traders, who will be sitting dow…
Euro cleared stops below 1.10 shortly after the open, but there was no follow through beyond 1.0965 as the pair quickly reversed back towards the big level. It went sideways from there and is awaiting European traders, who will be sitting dow…