Pretty good buy opportunity here, 125.50 was solid resistance and has been good support once the pair finally broke above. We also have a divergence between price and RSI and should see price follow momentum. Looking to target up at 127, but will look at strength around 126 because the pair wasn't able to get past that level at the end of last week. Stop below 124.80.
EUR/JPY was a big winner on Friday with the ECB announcement and it looks as if it overextended itself ahead of the German court ruling. RSI has a little more room south to run and the slow moving stochastic line hasn't rolled over yet. Pair could target its previous resistance at 99.00 and then trend line support at 98.55 and 98.20. Target these levels, stop...
After a significant move down in AUD/CAD we had some consolidation upward. The break of the this small upward channel could see a move down the length of the previous move down. If fundamentals continue to signal a Chinese slowdown Aussie could experience continued weakness and with QE3 rumors hampering USD, CAD could be a good substitute for shorting AUD. ...
