Japanese Yen Forecast: USD/JPY Breakout Targets Critical Resistance2021-07-01 18:34:00The USD/JPY breakout has ripped into key resistance at fr...
Japanese Yen Technical Price Outlook: USD/JPY Weekly Trade Levels
Japanese Yen technical trade levels update – Weekly Chart
USD/JPY Breakout approaching critical uptrend resistance into July open / 3Q / NFP
Key Near-term resistance at 111.60/98 – Support 109.68
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The Japanese Yen is down more than 0.7% versus the US Dollar since the start of the week with USD/JPY attempting to mark a fourth consecutive weekly advance. While the broader price outlook remains constructive, the rally is now probing a critical resistance confluence and the bulls may be vulnerable while below this zone heading into the July / 3Q open with US Non-Farm Payrolls on tap tomorrow. These are the updated targets and invalidation levels that matter on the USD/JPY weekly price chart heading into NFP / the extended holiday break. Review my latest Weekly Strategy Webinar for an in-depth breakdown of this Yen technical setup and more.
Japanese Yen Technical Price Outlook: USD/JPY Weekly Trade Levels
Japanese Yen technical trade levels update – Weekly Chart
USD/JPY Breakout approaching critical uptrend resistance into July open / 3Q / NFP
Key Near-term resistance at 111.60/98 – Support 109.68
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The Japanese Yen is down more than 0.7% versus the US Dollar since the start of the week with USD/JPY attempting to mark a fourth consecutive weekly advance. While the broader price outlook remains constructive, the rally is now probing a critical resistance confluence and the bulls may be vulnerable while below this zone heading into the July / 3Q open with US Non-Farm Payrolls on tap tomorrow. These are the updated targets and invalidation levels that matter on the USD/JPY weekly price chart heading into NFP / the extended holiday break. Review my latest Weekly Strategy Webinar for an in-depth breakdown of this Yen technical setup and more.
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AUD/USD Forex Signal: Inverted C&H Pattern Signals Weakness
The pair will likely resume the downward trend since this pattern is usually a sign of bearish continuation.
Bearish View
Sell the AUD/USD and add a take-profit at 0.7460.
Add a stop-loss at 0.7580.
Timeline: 1-2 days.
Bullish View
Set a buy-stop at 0.7530 and a take-profit at 0.7600.
Add a stop-loss at 0.7480.
The AUD/USD was little changed in early trading as investors reflected on the latest US non-farm payrolls (NFP) and the upcoming Reserve Bank of Australia (RBA) interest rate decision. The pair is trading at 0.7520, which is about 1% above the lowest level last week.
The pair will likely resume the downward trend since this pattern is usually a sign of bearish continuation.
Bearish View
Sell the AUD/USD and add a take-profit at 0.7460.
Add a stop-loss at 0.7580.
Timeline: 1-2 days.
Bullish View
Set a buy-stop at 0.7530 and a take-profit at 0.7600.
Add a stop-loss at 0.7480.
The AUD/USD was little changed in early trading as investors reflected on the latest US non-farm payrolls (NFP) and the upcoming Reserve Bank of Australia (RBA) interest rate decision. The pair is trading at 0.7520, which is about 1% above the lowest level last week.