USD/JPY is stuck in a 158–154.5 consolidation ahead of Friday’s NFP, with a mild bullish bias above 154.5 unless a risk-off shock boosts the yen.
Technical Analysis
About Christopher Lewis
Christopher Lewis is a Columbus, OH-based Forex trader who enjoys trading a wide range of pairs from the traditional EUR/USD to more exotic USD/RUB, and many things in between. Unlike many Forex traders who prefer to trade in a specific market session, Christopher takes advantage of the flexibility provided by the currency markets, and he trades in all sessions, most often when he’s taking a study break from pursuing degrees in both finance and computer science.
Mr. Lewis most often trades on the daily or weekly chart, rather than on a shorter time frame, making his market outlooks suitable for traders in all time zones. In addition to multiple daily analyses, he has been providing DailyForex.com traders with regular video analyses for several years. He also contributes weekly Forex forecasts, monthly outlooks and even yearly forecasts, all of which are all highly valued by his loyal following. Christopher has tested dozens of Forex trading platforms during his years as a trader, though he now uses GFT’s 360 DealBook when placing personal trades.
In late 2014 Mr. Lewis began contributing signals to ForexSignalz.com, where he collaborates with DailyForex’s chief trader, Adam Lemon, to provide additional signals to serious traders directly to their mobile phones. Mr. Lewis’s signals, although not overly aggressive, are largely based upon his own personal trades and trading strategies that he has cultivated over many years, making them suitable for traders at all levels and for traders using a range of trading platforms.
When he’s not studying, trading or chasing after his two young children, Christopher manages to find time to operate his own Forex website, aptly called The Trader Guy.
Latest 12 Articles
USD/ZAR remains firmly bearish with the rand at a 3-year high, and rallies into resistance zones (16.50 and 16.91) look like sell opportunities unless momentum flips.
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USD/CAD is grinding higher into 1.38 resistance, with weak oil and modest yield support for USD, while 1.36 remains the key downside floor ahead of jobs data.
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GBP/JPY is drifting lower short term, but strong carry-trade dynamics and a bullish flag setup keep the bias tilted to buying dips.
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AUD/USD remains supported by hawkish RBA expectations, China-linked tailwinds, and broad USD softness, though near-term consolidation is possible before the next push higher.
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Silver remains in a powerful uptrend driven by industrial demand and a softer USD, with pullbacks favored as buying opportunities while $70 holds.
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The NASDAQ 100 remains constructive with buyers supporting pullbacks, but a clean break above 26,000 is needed to confirm the next bullish leg.
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EUR/GBP is stabilizing at the key 200-day EMA, where a bounce could offer a rally-fade opportunity toward 0.8725–0.8750, while a break lower puts 0.86 in focus.
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Bitcoin is stabilizing and building a potential bottom, with a daily close above $95,000 likely to attract buyers and signal a move toward higher levels.
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Gold remains strongly bullish as momentum, central bank demand, and expectations of US rate cuts continue to drive prices higher.
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The US dollar initially shot higher against the Canadian dollar on Monday, as the US military actions in Venezuela have caused some jitters.
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The euro went back and forth on Monday, as traders continued to digest the news over the weekend out of Caracas. Risk sentiment is likely to be in flux at best.
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