Now that important structural and psychological resistance in EUR/JPY at 120 has been pierced, a weekly close above there would confirm that a change of sentiment is upon us. Look for some of the usual consolidation here during the Asian session but buying deep dips looks like the way to go here. EUR/USD also looks like it might be finding a base above 1.2500. Again, a weekly close above the pivotal 1.2720/50 area would confirm a wind change. Same story again for the AUD/USD. Buyers are now returning around .6330/50 but sellers are firm at .6660/80 in the form of investment funds. Play as close to the edges of this range as you can. Sterling is too hard to trade during this time zone, so ignore. If you really want to buy USD against something, buying dips is the strategy in USD/CHF whilst it’s above 1.1500.
Good luck today.
