29th September 2015 Market Outlook

Aussie Yen – AUD/JPY continue to 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 and move the stop to the previous swing high at around 85.10. Price is likely going to continue to move lower and may retest its 82.00 support level in the near term.

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Pound Yen – GBP/JPY fell lower into the 180.90 support level after price rejected the 184.22 resistance level as we expected in our 24th September 2015 Market Outlook and 28th September 2015 Market Outlook. Since price have hit our first target, traders may consider scale out the position to bank in some profits while leaving the rest for potential further run with a trailing stop behind. If price breaks the 180.90 support level, we are then likely going to see price retest its 179.29 support level in the near term.

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Silver – Silver breaks lower yesterday which turned the short term momentum from bullish into bearish as we now have lower high and lower low. If price pullback to the 14.72 resistance level, traders may then consider shorting this market to jump on the bearish momentum. There’s no immediate support level below which offer traders decent profit margin to trade the short side.

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