Euro Yen – EUR/JPY once again rejected its 133.10–132.40 resistance area yesterday which could potentially lead price lower in the coming days. Since the short term trend is bearish at the moment, traders may consider shorting this market to jump on the bearish trend. The next support level is located at 128.00 which offer traders huge profit margin to trade the short side of the market.
NZD/CAD – NZD/CAD is showing some weakness yesterday which could potentially cause price to pullback before continue its rally. Traders who went long at the rejection of 0.9330 support level as we recommended in our 12th March 2018 Market Outlook may consider continue holding onto the long position with a trailing stop while traders who missed the buying opportunity may consider buying into this market if price pullback into its 0.9435 support level to join this bullish trend.
Swedish Krona – USD/SEK started to make its move back into its 8.1400 support level. Since the short term trend is bullish, traders may consider buying into this market to jump on the bullish trend. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market to avoid false signals.