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USDJPY 4 HOUR CHART –  Watch bond yields
Posted yesterday after the Fed rate announcement…
FX is following US bond yields… back to square one after post Fed pop as Powell walks about hawkish part of statement.
Keep this one simple:
Chart is bearish bit as you can see very choppy.
Bearish while below 155 but..
Only below 153.70 would break the current range
Using my platform as a HEATMAP shows
JPY outperforming… look no father than US interest rates, which peaked at 4.59% for the 10-year after the Fed announcement, then slipped back and were last quoted at 4.506^
Next up is the ECB decision, the 3rd in the CB trifecta, where a 25bps cur is widely expected, leaving the focus on the forward guidance. Given the lack of strong reactions to the other CB decisions yesterday, it is hard to predict one here.
EURUSD a touch softer, levels to watch
1.0371/92 – 1.0444/57
A good mornign to you guys from the capital city of Africa, Nigeria. This is 9:30AM and market is looking beautiful. I am on the EUR/GBP chart and market is about to break long (buy). Market was in a sideways range all yesterday before breaking short early this morning to the price area of 0.8362 Price then rose to the price of 0.8372 as we speak now, but if you look at the 15′ chart candle of the same pair eur/gbp, you will see an almost perfectly paired candles standing next to each other.
The prior bearish candle and the just formed bull candle on the 15′ chart are of same height and length. This signals a continuation of the just formed candle which is a buy in this case. So market will continue to go upwards but for a while. From the present price at 0.8372 i see a pull up to the area of price 0.8375 where I hope to exit the market.
It is not much but a little profit is good, just be consistent and don’t over leverage your Account.
Thanks,
TOPNINE.In our blog
Although at a first glance it seems pretty simple and straight forward, applying Risk/Reward Ratio to your trade takes some serious homework and lots of fine tuning to achieve good results.
How to apply Risk Reward Ratio to your Trade
NAS100 4 HOUR CHART –     Trapped
Betting against the NAS has been a losing battle but so far it has been unable to fill the opening week gap. This leaves it trapped between the gap and this week’s low (20600).
On the downside, keeps a bid and thoughts away from this week’s low  as long as it stays above 20931-21000.
XAUUSD 4 HOUR CHART –   MORE CONSOLIDATION
Consolidating within 2700-2800
The bounce from the midpoint of 2725-35 so far unable to break 2771… while a break would expose the 2785 record high, it keeps alive a risk on downside (would need a 2730 break).. .
On the other hand, expect support as long as it trades above 2730 and the trendline.
USDCAD 4 HOUR CHART –  Survivor
Broad range has survived a BoC rate cut and a no change by the Fed.
Expect more choppy trade until/unless either side of 1.43-1.45 is firmly broken.
Next key date is Feb 1, a date when Trump has threatened to levy tariffs. However, there was an olive branch held out by the new US Commerce Secretary (scroll below) and if true, it would ease a headwind risk for the CAD.
EURUSD Daily
Well, day dreaming aside, EUR succeeded in holding above 1.04000 and even briefly went all the way till 1.03824 , but it will most probably close the day above.
Any close above 1.04250 will leave a chance for tomorrow to make another straight leg Up.
This is not a full blown Up trend, so we have more of a 50-50 situation on our hands.
Watch for overnight unfolding…
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