Weekly Technical Commentary

Subtle signs in a series of currencies that the trend to generalised US dollar weakness is about to step up a gear. Which currency will lead is unclear, though the Brazilian real and Australian dollar have so far, +33% this year. For dollar/yen we continue to favour a series of…

Technical Analysis Daily: USD/JPY

Dollar/Yen made an indecisive movement on Thursday, forming divergence on the 3 hour chart, than continued descending from the 89.44 top, closing the day at 88.95. On the 1 hour chart quotes made unconvincing break above 89.40, which indicates bulls’ weakness. Therefore our preferable scenario for now is downwards. Middle…