USD/JPY moves up with a bullish sentiment

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USD/JPY moves up with a bullish sentiment

02/10/2015 8:30 Update

GBP/USD 4-hour: Consolidating

Long positions above 1.5271 with targets at 1.5368 and 1.5466 in extension.

Technical reasons why: The pair continues to consolidate around our pivot level while remaining above the Ichimoku’s cloud with the RSI heading up above the the neutrality area.

Alternative Scenario: Below 1.5271 look for further downside towards 1.5150 and 1.5053.
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Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.5150 1.5271 1.5466
1.5053 1.5368

AUD/USD 4-hour: Entered the Ichimoku’s cloud.

Invest Diva positioning: No positions

Technical reasons why: The pair is consolidating below the pivot level at 0.7879 inside the Ichimoku’s cloud while forming a spinning top. The RSI is at the neutrality area.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7661 0.7879 0.8213
0.7457 0.8036

USD/CAD 4-hour: Rebounding from the key support level.

Invest Diva positioning: No positions.

Technical reasons why: The pair is rebounding above our pivot level above at 1.2445 below the Ichimoku’s cloud. A break below this level would signal further down moves. The RSI is at the neutrality area.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2090 1.2445 1.2779
1.1880 1.2630

USD/JPY 4-hour: Broke above the pivot level.

Invest Diva positioning: Long positions above 118.790 with targets at 119.812 and 120.630 in extension.

Technical reasons why: The pair broke above the pivot level and Ichimoku cloud with the strong bullish sentiment. The RSI is above the neutrality area.

Alternative Scenario: Below 118.79 look for further downside with 117.290 and 116.050 in extension

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
117.29 118.79 121.83
116.05 120.63