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USD/JPY-Don’t Overlook concerning the 26 12 months Trendline 

USDJPY-Dont-Forget-about-the-26-Year-Trendline_body_eurusd

  • GBP/USD downtrend resumption from trendline confluence
  • AUD/USD follows thru on weekly tweezer backside
  • USD/JPY rips however nonetheless under long run trendline

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EUR/USD

Weekly

USD/JPY-Don't Forget about the 26 Year Trendline

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-Long run feedback stay legitimate – “EUR/USD has been preserving its long run trendline toughen on account that March 2015 (even the January low is correct on the road). November and December change produced a tweezer backside (reversal candlestick sample…bullish on this case) as smartly. 2 situations appear possibly from the present juncture; a endured vary (with roughly 1.15 resistance) or a bullish base that results in an eventual breakout into the 1.20s.”

-Close to time period, FXTW suggests looking at for reinforce on the shorter time period median line (daring black line on the chart above) within the mid-1.0600s. The market has been in a decent vary considering that December (in reality, that is the tightest eight week vary given that August 2015, when a huge breakdown commenced). Such prerequisites aren’t conducive to SSI breakout methods. On the other hand, levels precede directional strikes so be aware of key technical breaks.

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GBP/USD

Weekly

USD/JPY-Don't Forget about the 26 Year Trendline

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-FXTW wrote closing week that “cable bounced greater this week however worth wants to determine above 1.4400 (see trendline confluence on the chart) with a view to counsel that even a brief time period low is in location.” The underside of the 1985 and 2009 line (which broke 2 weeks in the past) and an interior trendline equipped actual resistance for draw back continuation. The subsequent space of pastime on the draw back is round 1.forty.

AUD/USD

Weekly

USD/JPY-Don't Forget about the 26 Year Trendline

Chart Ready by means of Jamie Saettele, CMT

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-FXTW wrote remaining week that “corrective (vary certain) buying and selling conduct may just very neatly proceed given this week’s tweezer backside (at the long run median line no much less). Divergence with RSI on the weekly serves as a bullish reversal warning too.” AUD/USD adopted via on the tweezer backside this week and the quick time period charts ‘seem’ optimistic. If the USDOLLAR is grinding into some kind of high (see a video on this right here), then AUD/USD is also the play.

NZD/USD

Weekly

USD/JPY-Don't Forget about the 26 Year Trendline

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-NZD/USD was once quiet this week and there is not any exchange to prior feedback. “The October and December highs create a double high inside the long run downtrend. The purple traces on the chart point out a long run RSI development promote sign (greater RSI and lower cost). The October excessive continues to be crucial to any bearish interpretation. Like AUD/USD, a length of vary buying and selling is also in retailer given the restoration from underneath the November low.”

USD/JPY

Month-to-month

USD/JPY-Don't Forget about the 26 Year Trendline

Chart Ready through Jamie Saettele, CMT

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-FXTW has been following a conceivable head and shoulders prime that began forming in December 2015. Closing week’s reversal materialized from the neckline of that sample. This week’s practice thru has resulted in a check of the fifty five week moderate. The 2015 excessive was once proper on the 1990-1998 line (log scale), so a broader topping formation continues to be that you can imagine.

USD/CAD

Month-to-month

USD/JPY-Don't Forget about the 26 Year Trendline

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-Essentially the most latest FXTW feedback had been that “extraordinarily long run slope diagnosis unearths that the 1976-1991 line, which was once resistance (now not actual on the other hand), may prove as strengthen once more on the following ‘correction’. That line is round 1.3600. If USD/CAD goes to ‘proper’, which may it right from? At this level, I’d watch the seventy eight.6% retracement of the decline from the 2002-2007 decline. The Fib is 1.4659.” The excessive this month used to be 1.4689 and USD/CAD has reversed sharply. A high of some significance may be in location.

USD/CHF

Weekly

USD/JPY-Don't Forget about the 26 Year Trendline

Chart Ready through Jamie Saettele, CMT

Automate trades with Reflect Dealer

-Some extraordinarily long run technical concerns are useful of observe when having a look at USD/CHF. Examine them right here. This week’s boost brings the move not up to 2 large figures faraway from multiyear highs so any other breakout try (first one was once in November) is also close to.

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