The price behaved just as expected on the US dollar versus the Japanese yen currency pair, fulfilling the drop to 105.80 (the actual extension goes to 105.50) via the false break of the triple resistance area - see article. Of course, the question of the now is which is the next step...
USDCAD strengthens on further price rally following its Tuesday gain. This development leaves risk of more gain on the cards. Support comes in at the 1.3300 level where a break will aim at the 1.3250 level. Further down, support comes in at the 1.3200 level where a turn lower may occur...
Pivot (invalidation): 54.25 Our preference Short positions below 54.25 with targets at 53.15 & 52.45 in extension. Alternative scenario Above 54.25 look for further upside with 54.80 & 55.40 as targets...
Pivot (invalidation): 16.5200 Our preference Long positions above 16.5200 with targets at 16.8300 & 17.0000 in extension. Alternative scenario Below 16.5200 look for further downside with 16.4000 & 16.3400 as targets...
Pivot (invalidation): 1468.00 Our preference Long positions above 1468.00 with targets at 1494.00 & 1505.00 in extension. Alternative scenario Below 1468.00 look for further downside with 1460.00 & 1452.00 as targets...
Pivot (invalidation): 2847.00 Our preference Long positions above 2847.00 with targets at 2900.00 & 2930.00 in extension. Alternative scenario Below 2847.00 look for further downside with 2822.00 & 2805.00 as targets...
Pivot (invalidation): 11650.00 Our preference Short positions below 11650.00 with targets at 11560.00 & 11450.00 in extension. Alternative scenario Above 11650.00 look for further upside with 11745.00 & 11795.00 as targets...
Pivot (invalidation): 5.5380 Our preference Short positions below 5.5380 with targets at 5.5140 & 5.5020 in extension. Alternative scenario Above 5.5380 look for further upside with 5.5560 & 5.5920 as targets...
Pivot (invalidation): 0.6750 Our preference Short positions below 0.6750 with targets at 0.6650 & 0.6620 in extension. Alternative scenario Above 0.6750 look for further upside with 0.6780 & 0.6800 as targets...
Pivot (invalidation): 1.3265 Our preference Long positions above 1.3265 with targets at 1.3340 & 1.3360 in extension. Alternative scenario Below 1.3265 look for further downside with 1.3245 & 1.3220 as targets...
Pivot (invalidation): 0.9785 Our preference Short positions below 0.9785 with targets at 0.9735 & 0.9700 in extension. Alternative scenario Above 0.9785 look for further upside with 0.9810 & 0.9840 as targets...
Pivot (invalidation): 106.35 Our preference Short positions below 106.35 with targets at 105.85 & 105.50 in extension. Alternative scenario Above 106.35 look for further upside with 106.65 & 107.00 as targets...
Pivot (invalidation): 1.2140 Our preference Long positions above 1.2140 with targets at 1.2190 & 1.2210 in extension. Alternative scenario Below 1.2140 look for further downside with 1.2115 & 1.2100 as targets...
Pivot (invalidation): 1.1190 Our preference Long positions above 1.1190 with targets at 1.1230 & 1.1250 in extension. Alternative scenario Below 1.1190 look for further downside with 1.1170 & 1.1150 as targets...
Pivot (invalidation): 54.25 Our preference Long positions above 54.25 with targets at 56.05 & 56.50 in extension. Alternative scenario Below 54.25 look for further downside with 53.60 & 53.25 as targets...
Pivot (invalidation): 16.3500 Our preference Long positions above 16.3500 with targets at 16.5400 & 16.6500 in extension. Alternative scenario Below 16.3500 look for further downside with 16.2400 & 16.1000 as targets...
Pivot (invalidation): 1459.00 Our preference Long positions above 1459.00 with targets at 1475.00 & 1488.00 in extension. Alternative scenario Below 1459.00 look for further downside with 1452.00 & 1445.00 as targets...
Pivot (invalidation): 2877.00 Our preference Short positions below 2877.00 with targets at 2805.00 & 2780.00 in extension. Alternative scenario Above 2877.00 look for further upside with 2900.00 & 2930.00 as targets...
Pivot (invalidation): 11735.00 Our preference Short positions below 11735.00 with targets at 11620.00 & 11570.00 in extension. Alternative scenario Above 11735.00 look for further upside with 11870.00 & 11970.00 as targets...
