Hi everybody! We started our late session today with a look at USDJPY, which seems for the moment trapped in a 4h triangle threatening to break anytime now – bias remains to the upside as a larger retracement wave up in this pair seems possible on the daily charts.
On EURUSD and GBPUSD we were looking for possible breakout points both ways just before the NY open, with EURUSD confirming breakout above 1.4555 or below 1.4490 (at the time of this writing EUR has already broken the upper trendline and is now facing resistance at 1.4620 with further room to go up) and GBPUSD breaking a nice upward channel on 1h just above 1.9560 (later found resistance at the 1h 200MA at 1.9625.
USDCAD was displaying a bearish setup just below 0.9950 that finally failed, EURCHF looked bullish at the time while EURJPY and GBPJPY seemed to continue the upward large retracement targeting 157.16 and 210.20 respectively (both targets almost met at this time).
Looking forward to meet you all tomorrow in the LTR for more setups, trades and market action.
