Dec 29 – Jan 4, 2014 Weekly Analysis (USDJPY, EURJPY, EURGBP, GBPUSD)


Rising Channel.

There is strong support at 119,


The trend is volatile with large deep pullbacks, penetrating the other side of the 20EMA. We can see that these 2 big pullbacks started  near 110 and near 120.



Price action becomes slightly more curved.



Hourly chart looks slightly like a weak descending channel, but it may very well continue for only a short while because the lines don’t look very steep in the large context.


EURJPY Daily – Bearish

Look like the bears have come in for EURJPY. I wouldn’t be going long this pair.


This resistance at  147 seems to have held.



We have 3 bearish candles, the bodies of each bigger than the previous candle. The last red candle is a shaved bar, with its close being at its lows.


EURGBP Daily-  Bearish

Resistance at 0.82 was held even after 5 attempts. The spikes of each swing are each lower than the previous.


Price closed below the wedge/triangle, forming almost a shaved bar.


Price rejected the resistance with 2 pinbars and 4 spikes.


GBPUSD Weekly- Bearish

For GBPUSD weekly chart, price seems to be headed down to support @ 1.536

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2 thoughts on “Dec 29 – Jan 4, 2014 Weekly Analysis (USDJPY, EURJPY, EURGBP, GBPUSD)

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