Friday Morning Briefing

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

Crude is trying to overcome its 25-hour SMA but thus far I don’t see real buying momentum. It’s fair to be long here right now as long as it’s hovering above its SMA but a push above its upper 25-hour BB may be needed before it gets going. Short below the SMA of course.

A lot of sweet action on the Yen side this morning. The AUD/JPY at its 100-hour which is almost horizontal right now. Nice reversal off the bottom and this makes for a good spot to get positioned on either side of the fence.

More Japanese goodness below:
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The ZB is above its 25-hour but below a NLBL – I’d be along on a push above it. Short below the SMA.

Interesting rising wedge pattern on the USD/JPY – I have marked good spots to get positioned.

Cable battling with two NLBLs right now. Long if it wins – short if it drops below the SMA.

EUR/JPY at its 25-hour – may be a retest after that breach or it may be a failure. I like these types of setups.

Ditto on CHF/JPY.

Cheers,