FxWirePro- Major Pair levels and bias summary 
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185 
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212 
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains 
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 
FxWirePro- Major European Indices 
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption 
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116 
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K 
FxWirePro: GBP/NZD retreats slightly but trend is still bullish 
FxWirePro- Major Pair levels and bias summary 
FxWirePro- Woodies Pivot(Major) 
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains 
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed 
FxWirePro: USD/ZAR edges higher but bearish outlook persists 
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact 
Chart and candlestick pattern formed- Shooting stars repeatedly at 88.634, 88.129 and 88.629 levels respectively (refer weekly plotting). These bearish patterns are followed by 3-black crow pattern which is again a serious bearish indication.
As a result, the bears have managed to breach below rising wedge baseline that has acted as the strong support so far in the intermediate trend (on weekly plotting).
However, hammer pattern has occurred on daily plotting that counters this price slump for now.
On the broader perspective, shooting stars have occurred even on monthly terms at 87.251 and 88.649 levels. Thereafter, the steep slumps that have broken strong supports at 84.578 (7EMA) in the recent past signal weakness (refer weekly plotting), the major bearish trend has now resumed after shooting stars formation on this timeframe, both leading & lagging indicators substantiate.
On this time frame, both RSI and stochastic curves have constantly been converging downwards to selling interests that confirms the strength and momentum of the bearish trend.
To substantiate this bearish stance, the trend indicators (MACD, 7 & 21EMAs on weekly terms) have also been showing bearish crossovers that signal downtrend to prolong further.
Trade tips:
Contemplating both short and intermediate trend observations, it is wise to buy tunnel spreads binary options strategy with upper strikes at 82.986 levels and lower strikes at 82.032 levels, with this leveraged product one can add magnified impact on the trade yields if the underlying spot FX keeps dipping but remains above lower strikes on expiration.
Alternatively, one can also deploy shorts in futures contracts of mid-month tenors with a view to arresting further potential slumps.
Writers in a futures contract are expected to maintain margins in order to open and maintain a short futures position.
Currency Strength Index: FxWirePro's hourly CAD spot index is displaying shy above 94 levels (bullish), while hourly JPY spot index was at -109 (bearish) while articulating (at 06:01 GMT). For more details on the index, please refer below weblink:
http://www.fxwirepro.com/currencyindex
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