Aussie Yen – AUD/JPY decline sharply after price rejected its 84.00–83.73 resistance area as we expected in our 13th March 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as price is likely going to continue to decline lower into its next support level located at 81.54.
Euro Yen – EUR/JPY started to decline lower after price rejected its 133.10–132.40 resistance area as we expected in our 15th Market 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind. The next support level is located at 128.00 which may serve as the first target for short sellers to lock in profits.
Euro Swedish Krona – EUR/SEK has been weak over the last few trading days. Since the overall trend is still bullish, traders may consider buying into this market if price pullback into its 10.0150–9.9900 support area. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market to avoid false signals.