23rd September 2015 Market Outlook

Aussie Yen – AUD/JPY fell lower after price rejected its 87.33 resistance level as we expected in our 22nd September 2015 Market Outlook. Traders who went short as we recommended may consider holding onto the short position while trailing the stop behind to lock in the profits. Price is likely going to continue to move lower and may retest its 82.00 support level in the near term.

AUDJPYrH4

 

Euro Yen – EUR/JPY fell lower after price rejected the 137.08 resistance level as we expected in our 15th September 2015 Market Outlook. Traders who went short as we recommended may consider take profits or scale out the position at the 133.73–133.04 support area while leaving the rest to run further. If price breaks the 133.73–133.04 support area, we are then likely going to see price continue to move lower into its next support level at 131.27.

EURJPYrDaily

 

Euro Pound – EUR/GBP fell through its 0.7223 support level on Monday but price snaps back up higher the next day which leave a false break at the 0.7223 support level. Given that we are in a ranging market, traders may consider buying into this 0.7223 support level. If price bounce off away from this support level, we are then likely going to see price continue to move higher into its next resistance level at 0.7386.

EURGBPrDaily