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21 May 2015
FX outlook: Bullish on USD/JPY and USD/CAD – Littlefish FX
FXStreet (Barcelona) - Analysts at Littlefish FX share the outlook for forex majors, maintaining a bullish view on USD/CAD, USD/JPY and EUR/USD.
Key Quotes
“EUR/USD: Bids towards 1.1030/60 support on the initial probe as this area supports expect retest of 1.1200/50 from below.”
“GBP/USD: Testing ascending trendline support at the 1.5450 level while bids support this area potential to set base for 1.60 attempt, failure here opens 1.5350.”
“USD/JPY: While 120.50 supports intraday pullbacks bulls target a break of 122 en route to 124 target. Below 119.50 concerns near term bullish bias.”
“USD/CAD: Descending trendline resistance at 123 arrest the upside advance while this area contains the bulls potential to retest the pivotal 120 level.”
“AUD/USD: While .7850 supports downside reactions expect a break of .82 en route to test offers at .83, below .78 invalidates bullish bias”
Key Quotes
“EUR/USD: Bids towards 1.1030/60 support on the initial probe as this area supports expect retest of 1.1200/50 from below.”
“GBP/USD: Testing ascending trendline support at the 1.5450 level while bids support this area potential to set base for 1.60 attempt, failure here opens 1.5350.”
“USD/JPY: While 120.50 supports intraday pullbacks bulls target a break of 122 en route to 124 target. Below 119.50 concerns near term bullish bias.”
“USD/CAD: Descending trendline resistance at 123 arrest the upside advance while this area contains the bulls potential to retest the pivotal 120 level.”
“AUD/USD: While .7850 supports downside reactions expect a break of .82 en route to test offers at .83, below .78 invalidates bullish bias”