USDJPY

The USDJPY found support at the trend channel.  This likely means that price action will likely test the 100.77 – 101.84 area, which are huge levels.

USDJPY 4Hour


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GBPUSD

The GBPUSD is likely going to move higher over the next few days into a few likely levels that could produce some important resistance.  The first is the 1.5424-1.5462 area, the second is the 1.5606 level, and the last area would be the 1.5725-1.5788 area.    I expect the longer term move lower to resume by next month.

GBPUSD 4Hour


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SPX

The S&P 500 index remains within the upward trend channel.  Price action is likely to make another new high while the channel continues to provide support.  A break below the channel and that changes everything.

SPX 4Hour


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GBPUSD

The GBPUSD wave count allows for another push lower to make a new low and complete this larger move lower since the beginning of the year.  While price action remains below the 1.5090 level, my bias is for a new low to be made in the next few days.

GBPUSD 4Hour


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SPX

There is a possibility of an ending diagonal for this move higher on the SPX.  We are looking for price action to reach the 1588-1590 area in the next few weeks.  Our longer forecast and wave counts are only available to premium members.

SPX 1Hour


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TNX

The 10yr treasury yield is setting up expectations for another move lower over the next several months, which will likely surprise most.  Perhaps we will see equities and the treasury move in sync with each other over the next several months.  A test of multi-year lows could be in order.

TNX Daily


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EURJPY

The EURJPY is testing the critical level of 120.01.  A sustained break below will likely see price action move lower towards the 117.25 level as a target in the next few days, however, a fake out could be in order as well.

Regardless it is clear that the larger moves lower are corrective and the moves higher are impulsive.  I expect price action to eventually test above the 128.00 level in the next week or two.

EURJPY 4Hour


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AUDJPY

The AUDJPY broke lower as expected out of the short-term rising wedge pattern.  The downside move may be complete at this point for the short-term as price action found support at the 61.8% fib retracement level of 98.31.  A triangle pattern is likely in the works here.

AUDJPY 30min


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AUDUSD

Price action is going to struggle staying above the 1.0475 level.  I’m looking for a swift move lower begin to develop with the next stop being the 1.0205 level.

AUDUSD 4Hour


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