I want to be short for the US equity open as the near term pattern is especially bearish. In fact, the short term (and maybe long term) bearish equity pattern reinforces last night’s Yen crosses report. AUDJPY resistance is 8610/60 if price exceeds last night's high (I'll look to return to short side at those levels if stop is hit at 8570. Eventual objectives are 8385 and 8285.
Jamie’s Pick: 03/30/12
- Nov, 25 19:10 GMTLooking to sell a failure in USD/CAD
- Nov, 24 13:30 GMTBearish AUDJPY as Topping Pattern Matures, Awaiting Key Support Break
- Nov, 23 15:25 GMTOil Traders Prepare for a Breakout on WTI Consolidation
- Nov, 21 01:15 GMTAnalyst Pick: EUR/JPY Well-Positioned for a Rough End-of-Year
- Nov, 20 19:40 GMTEUR/GBP Eyes July Low Ahead of ECB Rhetoric, BoE Testimony