DXY (USD Index) - the index highlights two timeframes that offer a bias to sell rallies. The issue is, there are two different resistance zones: • The daily chart highlights the index moving higher within the BC leg of the Gartley formation. A common retracement level is 38.2% of the last decline. This is located at 103.93. Bespoke resistance is located at 104.08. This is our medium-term resistance zone (103.93-104.08). • The intraday chart highlights the index breaking out of an Ending Wedge pattern to the downside. This has a measured move target of 102.62. We have a barrage of bespoke resistance located at 103.42-44. This is a short-term resistance zone. Today's US non-farm payroll employment data will be the catalyst. JPY BASKET - bespoke resistance is located at 7281 and 7341. We have a 261.8% extension level located at 7287. This is our Sell Zone (7281-7341) USD/JPY - we have bespoke support located at 141.24 and 140.69. The weekly chart highlights a projected support level for the AB leg of a large Crab formation located at 140.87. Conclusion: there is ample scope for more losses in USD/JPY today. With both baskets suggesting ‘selling rallies,’ I would expect intraday volatility. The weekly chart suggests buying the dip close to 140.87. I am expecting a corrective bounce from this zone (141.24-140.69) to the 147.29 resistance level. Resistance: 147.29 (bespoke), 149.57 (projected 78.6%), 150.67 (projected 88.6%) Support: 141.24 and 140.69 (bespoke), 140.87 (AB), 111.97 (Crab)
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.