Strategy Webinar: USD Majors in the Fed Aftermath- Yen Crosses in Focus
- Review of current / active setups in heading into the start of the week
- Updated targets & invalidation levels
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The dust is settling from last week’s flurry of central bank rate decisions and the DXY is holding a critical range just above key downtrend support at 96.47-97.78 – We’ll be looking for a break this week for near-term guidance.
Yen weakness has been the play with the crosses opening the week at some key thresholds. Our focus is on a pullback in these crosses to offer better long-entries. Favored setups reviewed on GBPJPY, EURJPY & NZDJPY. Keep in mind we have the Reserve Bank of New Zealand (RBNZ) interest rate decision on tap on Wednesday night in New York.
See our 2Q projections on the majors in the DailyFX Trading Forecasts.
In this webinar we discussed textbook examples of basic median-line analysis and reviewed both current and pending setups & updated technical levels on DXY, EURUSD, USDJPY, GBPJPY, EURJPY, NZDJPY, NZDUSD, AUDUSD, EURAUD, GBPAUD, NATGAS, Gold Crude, USDMXN & USDZAR.
What do shifts in retail positioning hint about the broader trend? Learn how Sentiment can help your trading in this free guide !
Key Data Releases
Other Setups in Play:
- GBP/JPY- Range Break to Set Directional Bias Ahead of BoE, BoJ
- Dollar (DXY) Primed Ahead of FOMC: Levels to Know
- USD/CAD Freefalls into Critical Zone
- Strategy Webinar: USD Majors in Focus as FOMC Takes Center Stage
---Written by Michael Boutros, Currency Strategist with DailyFX
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.