Forex EUR/USD Daily Video, February 13, 2023

[Sive Morten]

Good morning,

On Monday we intend to watch for EUR performance around 1.0675 lows. Downside breakout suggests continuation to next 1.0550 support area, while coiling around keeps chances on upside bounce:

 

[Suomi]

Thank you Sive, would be watching for a sideway move into Tuesday and wait for the numbers to be out. Only trade I would take is in case of a hot inflation data.

 

[Davidovic]

Hi Sive,
On the USD/JPY I see on the weekly and daily chart a nice K area 136,500 for a possible short entry.
Currently I think there are also opportunities to go long until the 136,500 K area. What is your opinion on that?

 

[Sive Morten]

Hi Sive,
On the USD/JPY I see on the weekly and daily chart a nice K area 136,500 for a possible short entry.
Currently I think there are also opportunities to go long until the 136,500 K area. What is your opinion on that?

Hi mate,
If we would ignore possible BoJ manipulations, you're mostly right, especially about 136.5 K-area and short selling. At the same time, I would say that we have monthly B&B "Buy" and if it starts, market should proceed to 142.50 potentially, although, indeed, it might be solid pullback from 136.5, because it is overbought area as well.

Concerning long entry, is a bit tricky. In general - yes, we have the same monthly B&B "Buy", but I'm a bit uncomfortable with no clear bullish reversal patterns on daily/intraday charts. Overall performance is also very choppy. Besides, price now at 3/8 weekly resistance and potential bearish grabber might be formed. All this stuff makes me think that the entry point on long side is yet to be formed.

 

[Davidovic]

Thanks Sive for your as usual clear analysis/advice. Also to be alert for the BoJ and weekly major retracement 61.8 142.5
Also another outstanding video on the GBP/USD.... Kaboom 1.2260
Thank you!