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Stronger NFP numbers in the US helped to lift risk-appetite among investors, sending the Japanese Yen lower against higher-yielding currencies such as the NZD, USD, and EURO. The day also saw other pairs provide strong signals to indicate their direction over the next few days.
EURO JPY looks set to continue its breakout with a strong Bullish Candlestick Formation on its daily chart, that is part of the sharp breakout from its Consolidation (Resistance 135.00, Support 131.20). If the bullish breakout continues, a target of 143,00 could be hit by the end of the following week.
For the NZD JPY, it looks set to start its own breakout with the breach of the Resistance of its Consolidation, (Resistance 83.74, Support 80,58). Going long, important Resistance areas of 86,39 ( Nov 4, 2013) before heading to 88.00 (Feb 2, 2008)
In the case of the GBP NZD, this one appears to be starting a move back down to the Support of its large range setup (Resistance 2.0000, Support 1,8900). Expect support areas of 1,9553 and 1,9106 to be taken out along the way.
EURO JPY looks set to continue its breakout with a strong Bullish Candlestick Formation on its daily chart, that is part of the sharp breakout from its Consolidation (Resistance 135.00, Support 131.20). If the bullish breakout continues, a target of 143,00 could be hit by the end of the following week.
For the NZD JPY, it looks set to start its own breakout with the breach of the Resistance of its Consolidation, (Resistance 83.74, Support 80,58). Going long, important Resistance areas of 86,39 ( Nov 4, 2013) before heading to 88.00 (Feb 2, 2008)
In the case of the GBP NZD, this one appears to be starting a move back down to the Support of its large range setup (Resistance 2.0000, Support 1,8900). Expect support areas of 1,9553 and 1,9106 to be taken out along the way.
