Pound Dollar – GBP/USD continue to rally higher after price breakout above its 1.3260 resistance level as we expected in our 13th September 2017 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind as price is likely going to continue to rally into its 1.3500–1.3440 resistance area in the near term.
Japanese Yen – USD/JPY rejected its 111.00–110.90 resistance area yesterday which could potentially lead price lower in the coming days. Traders may consider shorting this market and have the first target set near 109.30 price level. If price is able to breakout above its 111.00–110.90 resistance area, we are then likely going to see further rally coming into this market in the coming days.
Norwegian Krone – USD/NOK made another rejection off its 7.8800 resistance level yesterday which could potentially lead price lower in the coming days. The long term trend is still very bearish therefore traders may consider shorting this market and have the first target set near previous swing low at around 7.7000 price level.