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
- Aug, 27 15:45 GMTRetest Looming in USD/JPY?
- Aug, 27 11:30 GMTUSDJPY Retraces to Resistance
- Aug, 25 12:51 GMTEURUSD Retests 1.1450 Breakout Level
- Aug, 24 11:36 GMTNikkei (JPN225) Collapse Breaks Through Wedge Support
- Aug, 21 13:21 GMTGold Sentiment Shifts towards Sellers Long Opportunity