DailyFX.com -

Talking Points

  • USD/JPY on cusp of more important move?
  • Important turn window coming up in Gold
  • Impulsive move in NZD/USD changes near-term cyclical picture

New to Currency Trading? Learn More HERE

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: USD/JPY

Price & Time: Kiwi!

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/JPY has come under steady pressure since last week’s failure near key Gann resistance in the 102.75 area
  • While under 102.75 our near-term trend bias is lower in the exchange rate
  • Interim support is eyed around 101.75, but a close under 101.35 is needed to signal the start of a more important decline
  • A minor cycle turn window is seen today
  • A move through 102.75 would shift our near-term trend bias to positive

USD/JPY Strategy: Like the short side while below 102.75.


Support 2

Support 1


Resistance 1

Resistance 2







Price & Time Analysis: GOLD

Price & Time: Kiwi!

Charts Created using Marketscope – Prepared by Kristian Kerr

  • XAU/USD has moved steadily higher since reversing last week near the 4th square root relationship of the year’s high in the 1244 area
  • Our near-term trend bias is negative in the metal while below 1286
  • The 1244 level remains a key pivot with a daily close below this level needed to trigger the next extension lower towards 1210/20
  • The middle of the month is a potentially important cycle turn window related to the 1980 high
  • A daily close over 1286 would turn us positive on Gold

XAU/USD Strategy: Square, but may look to sell on strength against 1286.


Support 2

Support 1


Resistance 1

Resistance 2







Focus Chart of the Day: NZD/USD

Price & Time: Kiwi!

NZD/USD moved sharply higher overnight following the move by the RBNZ and has now retraced about 75% of the May decline. The reversal last week came a little later than we were looking for in terms of time, but from a price perspective it was pretty ideal as the rate bottomed just a few pips below the 50% retracement of the year’s range near .8400. So what now? In a note last month we said we didn’t like chasing it lower on the break of the double top neckline at .8515 and would like to sell it at higher levels in June. The impulsive nature of the move of the last few hours has changed things a bit and we see no real reason to fight this advance just yet. A medium-term cycle turn window is eyed around the end of the month, but longer-term cyclical analysis suggests the uptrend could persist into August.

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

Related Articles
  1. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  2. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  3. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  4. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  5. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  6. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  7. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  8. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  9. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  10. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.

You May Also Like

Hot Definitions
  1. Take A Bath

    A slang term referring to the situation of an investor who has experienced a large loss from an investment or speculative ...
  2. Black Friday

    1. A day of stock market catastrophe. Originally, September 24, 1869, was deemed Black Friday. The crash was sparked by gold ...
  3. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  4. Barefoot Pilgrim

    A slang term for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market. ...
  5. Quick Ratio

    The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet ...
  6. Black Tuesday

    October 29, 1929, when the DJIA fell 12% - one of the largest one-day drops in stock market history. More than 16 million ...
Trading Center