FXOptimax Market Analysis

30th May 2018 Market Outlook


Japanese Yen – USD/JPY continue to decline lower after price rejected its 111.10 resistance level as we expected in our 23rd May 2018 Market Outlook. Traders who went short at the 111.10 resistance level as we recommended may consider continue holding onto the short position with a trailing stop behind and have the first target set near 107.00 resistance level to lock in profits.

USDJPYrDaily

 

Aussie Loonie – AUD/CAD decline lower after price rejected its 0.9820 resistance level as we expected in our 29th May 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 decline lower in the coming days.

AUDCADrDaily

 

Kiwi Yen – NZD/JPY decline significantly lower after price breakout below its 76.00 support level. Traders who short this market may consider continue holding onto the short position with a trailing stop behind while traders who missed the shorting opportunity may still short this market or wait for price to pullback into its 76.00 resistance level (Previous support level) to jump on the bearish trend.

NZDJPYrDaily

Posted on 2018-05-30 06:30:34

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