Which 2 JPY Pairs and 2 NASDAQ Stocks To Trade
Because of the Easter weekend, my usual chart provider’s connectivity wasn’t good at the time I was composing this report.
So I don't have access to the charts I normally use for these reports to show things in the best possible light. However, I'll make do and show you the key developments you need to focus on right now.
Here’s USDI (the US Dollar Index) which measures the US dollar against half a dozen of the major currencies.
As we saw many months ago, the dollar topped out with a large head and shoulders price pattern. This is inherently a bearish pattern and suggests price will fall over time.
However, consistent with the double bottom a few weeks back, I said USDI would likely go higher and stabilize in the short term. USDI has been locked in a trading range ever since.
Last week’s key reversal suggests USDI could roll over and drop within that range. So I don't have high expectations for dollar correlated trading pairs right now. The dollar remains stuck in a trading range for at least another couple of weeks.
However, one interesting dollar-correlated trading pair is USDJPY (US dollar versus the Japanese yen):
USDJPY has traversed within a descending triangle for many years with a sawtooth pattern of lower highs against a common low.
But lately we’ve seen higher highs instead. It appears USDJPY is starting to break out of that descending triangle. That suggests a major paradigm shift in USDJPY where the yen appears to be weakening after several decades of continued strength.
The next resistance level is around 112 which means we’ll likely see some turbulence there, but it really does feel like a paradigm shift is underway.
Start nibbling at the long side of USDJPY with an eye toward building a long-term position for what looks like a major breakout to the upside.
To find out which other JPY pair and whatNASDAQ stocks to trade watch this weeks full report
You’ll get pattern identification, price action and price targets fort he best trades I see right now PLUS the reasoning behind each opportunity.
I show you everything that really counts.
The highlights include:
- Which 2 JPY pairs I think are worth buying right now
- Where to protect your GBPNZD profits if you're long right now (starts at 5:08)
- What just happened in gold and why it's not safe to buy yet
- What just happened with silver's price action
- What bar just appeared on the DJIA you need to watch (starts at 13:58)
- Which two tech stocks I have opposite (and tradeable) opinions about
- Should you care about interest rates and future earnings if you only read charts?
- Plus much more!
Choose a price that makes you happy, then access my Report right now -- before the clock strikes midnight Friday:
There’s no commitment and no minimum investment. Just ‘name your own price’ and start learning!