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Dollar Jumps against Mr. Japanese Yen


Jul.03.2014

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Ms. USA had a HUGE jump today on a bunch of fundamental news including Janet Yellen speaking of her preference for firmer regulation rather than interest rate rises to control any asset bubbles that might be forming, and the fact that the US is readying thousands of missiles to send to Iraqi government forces.

In Asia, We watched a lesson in Asian diplomacy last night as Japan prepared to lift some sanctions against North Korea on the same day that South Korea was due to host Chinese president Xi Jinping. Japanese PM Abe will be frustrated at South Korea's warming relations with China, as he has issues with both nations. Mr Abe is due to lift sanctions on money transfers, some travel restrictions and also allow North Korean ships to call at Japanese ports. In return Mr Abe wants an open investigation into the abduction of Japanese citizens by North Korea in 2002.

So as you may have guessed, the pick of the day is USDJPY today as Ms. USA jumped over 100 pips while dancing with Mr. Japan. They successfully re-entered the Ichimoku cloud and rapidly approaching Ichimoku’s upper band. This is good news for USD/JPY bulls because the pair remains above the 50% Fibonacci level and we could see an end to the sideways dance moves.

Our outlook remains bullish as long as the pair remains above the 61% Fibo at 100, with our targets set at 103.4 and a previous top at 105.4.

USDJPY technical analysis ichimoku fibonacci daily candlestick chart

 

Now if the pair suddenly decides to go nuts and break below 100, our outlook would switch to bearish with first alternative target set at 97.7.

 

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Intraday Forex Technical Levels

EUR/USD Intraday: under pressure.

Invest Diva likes: Short positions below 1.3675 with targets @ 1.3635 & 1.362 in extension.

If pair goes nuts: Above 1.3675 look for further upside with 1.37 & 1.372 as targets.

What’s up on the Forex dance floor: The pair stands below its resistance and remains under pressure.

Supports and resistances:
1.372
1.37
1.3675
1.3652 Last
1.3635
1.362
1.36

スライド1

GBP/USD Intraday: the upside prevails.

Invest Diva likes: Long positions above 1.7115 with targets @ 1.7175 & 1.72 in extension.

If pair goes nuts: Below 1.7115 look for further downside with 1.709 & 1.705 as targets.

What’s up on the Forex dance floor: The pair is pulling back on its support.

Supports and resistances:
1.7235
1.72
1.7175
1.713 Last
1.7115
1.709
1.705

USD/JPY Intraday: the upside prevails.

Invest Diva likes: Long positions above 101.65 with targets @ 102 & 102.15 in extension.

If pair goes nuts: Below 101.65 look for further downside with 101.5 & 101.35 as targets.

What’s up on the Forex dance floor: The pair stands above its new support and remains on the upside.

Supports and resistances:
102.3
102.15
102
101.91 Last
101.65
101.5
101.35

USD/CHF Intraday: key resistance at 0.8905.

Invest Diva likes: Short positions below 0.8905 with targets @ 0.886 & 0.884 in extension.

If pair goes nuts: Above 0.8905 look for further upside with 0.8925 & 0.894 as targets.

What’s up on the Forex dance floor: The pair is posting a rebound but stands below its resistance.

Supports and resistances:
0.894
0.8925
0.8905
0.8897 Last
0.886
0.884
0.8815

NZD/USD Intraday: key resistance at 0.879.

Invest Diva likes: Short positions below 0.879 with targets @ 0.872 & 0.87 in extension.

If pair goes nuts: Above 0.879 look for further upside with 0.8835 & 0.886 as targets.

What’s up on the Forex dance floor: As long as 0.879 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
0.886
0.8835
0.879
0.8758 Last
0.872
0.87
0.868

AUD/USD Intraday: the downside prevails.

Invest Diva likes: Short positions below 0.9425 with targets @ 0.935 & 0.9325 in extension.

If pair goes nuts: Above 0.9425 look for further upside with 0.9465 & 0.9505 as targets.

What’s up on the Forex dance floor: Technically the RSI is below its neutrality area at 50.

Supports and resistances:
0.9505
0.9465
0.9425
0.9372 Last
0.935
0.9325
0.929

スライド3

USD/CAD Intraday: the upside prevails.

Invest Diva likes: Long positions above 1.0615 with targets @ 1.0695 & 1.0725 in extension.

If pair goes nuts: Below 1.0615 look for further downside with 1.058 & 1.0555 as targets.

What’s up on the Forex dance floor: The RSI has just landed on a support around 30% and is reversing up.

Supports and resistances:
1.075
1.0725
1.0695
1.0655 Last
1.0615
1.058
1.0555

US Index Technical Levels

S&P500

Long positions above 1956 with targets @ 1978 & 1990 in extension.

Alternative scenario: Below 1956 look for further downside with 1950 & 1942 as targets.

Dow Jones

Long positions above 16790 with targets @ 16950 & 17000 in extension.

Alternative scenario: Below 16790 look for further downside with 16715 & 16655 as targets.

Nasdaq 100

Long positions above 3850 with targets @ 3903 & 3931 in extension.

Alternative scenario: Below 3850 look for further downside with 3829 & 3808 as targets.

Russell 2000 

Long positions above 1185 with targets @ 1211 & 1217 in extension.

Alternative scenario: Below 1185 look for further downside with 1176 & 1166 as targets.

 

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