Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Price & Time: 6-Year High In USD/CAD

Price & Time: 6-Year High In USD/CAD

Kristian Kerr, Sr. Currency Strategist


Talking Points

Get real time volume on your charts for free. Click HERE

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: USD/JPY

ChartPrepared by Kristian Kerr

  • USD/JPY broke above the 61.8% retracement of the June – July decline this morning
  • Our near-term trend bias is higher in the exchange rate while above 122.00
  • The mid-June high around 124.40 is the next upside pivot of importance
  • A very minor turn window is eyed early next week
  • A close under 122.00 would turn us negative again on USD/JPY

USD/JPY Strategy: Like buying on weakness against 122.00

InstrumentSupport 2 Support 1SpotResistance 1Resistance 2

Price & Time Analysis: GBP/USD

ChartPrepared by Kristian Kerr

  • GBP/USD stalled yesterday at the internal trendline connecting the April/June lows
  • Our near-term trend bias is lower in Cable while below 1.5695
  • A move under 1.5485 is needed to re-instill downside momentum
  • A very minor turn window is seen tomorrow
  • A daily close back over 1.5695 would turn us positive on the pound

GBP/USD Strategy: Like the short side while below 1.5670

InstrumentSupport 2 Support 1SpotResistance 1Resistance 2

Focus Chart of the Day: USD/CAD

USD/CAD broke above the March high yesterday to trade at its highest level in more than 6-years. A weekly close above 1.2830 will further confirm the breakout and set the stage for a more important run higher in the weeks ahead. Psychological resistance is to be expected around 1.3000, but the 127% extension of the March – May decline around 1.3080 looks to be a more important upside attraction/pivot. A rate-of-change (ROC) divergence on the daily is a minor concern, but only weakness under 1.2650 would warn of a false break to the upside.

To receive Kristian’s analysis directly via email, please SIGN UP HERE.

--- Written by Kristian Kerr, Senior Currency Strategist for

This publication attempts to further explore the concept that mass movements of human psychology, as represented by the financial markets, are subject to the mathematical laws of nature and through the use of various geometric, arithmetic, statistical and cyclical techniques a better understanding of markets and their corresponding movements can be achieved.

To contact Kristian, e-mail Follow me on Twitter @KKerrFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.