Time to pour over the charts and see what's afoot going into and over NFP
USDJPY
Up
- 119.70 may hold some minor resistance, though a bit too close to the current price
- 120.00/25 could figure if we're around target or slightly better. The 55 H4 ma is at 120.13
- 120.40/50 sits next to offer some minor resistance
- 120.65/75 is the old favourite S&R level and has the 200 dma there too
- 121.00 will resist naturally. It's hard to see even a big beat get passed here at roughly 180 pips from the current price
Down
- Last weeks blow out took out some tech but expect it to play a part should we go there today. 118.80 has already shown it's hand
- 118.50 might stall things as may 118.35/40
- 118.00/10 will see natural big figure trading and that comes ahead of the 38.2 fib of the Sep 2014 swing at 117.95
- The 55 wma needs consideration at 117.74
- 117.50/60 should see support then there's not too much in the way under there until 116.90/117.00
EURUSD
Up
- 1.1160 was resistance today, forget about it though as it's too close
- 1.1200 is the first real number to watch, then 1.1220/40
- 1.1283 sees the 200 dma
- 1.1290/95 marked resistance after we fell through 1.1300
- 1.1302 has the 55 H4 ma. It will take a bad number to get us here but don't rule it out
Down
- Yesterday's lows went through the 100 & 55 dma's & 200 H4 ma but not by much. At 1.1110, 1.1108 & 1.1095 they're too close to stop anything other than a really dead pan number
- The area between 1.1020/40 was an old S&R point that lost its shine. It might want to make another name for itself
- 1.1000 would be the sort of area I'd expect things to become stretched
- Should we go under there then 1.0965/75 holds some support
Have those for now and if I get time before Lacker starts up I'll try and get GBPUSD out too
