Some Yen weakness helped to deliver a wedge breakout on the USD/JPY and GBP/JPY but most other instruments are little changed ahead of today’s FOMC rate update. Momentum is declining across many instruments so watch for any new momentum-based trend line breakouts BUT caution is needed with FOMC.
Data: watch today with AUD CPI and the FOMC update:
Earnings: another big day ahead:
DXY daily: note the indecision with the last two daily candles:
Trend line breakouts:
USD/JPY: this wedge breakout finally got going!
USD/JPY 4hr: a TL b/o for 60 pips BUT watch 109 for any new make or break:
USD/JPY 15 min: this b/o came in the Asian session but still gave around 3 R on a low risk (20 pip) set up. Placing the STOP just below 108, or the bottom of the Cloud, would have the way to play this move:
GBP/JPY 4hr: the b/o above 150 has given around 100 pips:
Other markets:
S&P500 4hr: watch for any new TL b/o:
ASX-200 4hr: watch for any new TL b/o:
Gold 4hr: watch for any new TL b/o:
EUR/USD 4hr: watch 1.20 and for any new TL b/o:
AUD/USD 4hr: watch 0.78 and for any new TL b/o:
AUD/JPY 4hr: watch for any new TL b/o:
GBP/USD 4hr: watch 1.39 and for any new TL b/o:
NZD/USD 4hr: watch 0.72 and for any new TL b/o:
