.png "DailyForex logo")
Forex Trading Reviews & News 
By: Dale Todd
Last week’s unemployment report did nothing to shake EUR/USD out of its trading range between 1.3433 and 1.3735, and we are currently in a bit of a “triangle” pattern, with support at 1.3529 and resistance at 1.3687. A break below 1.3433 would have targets at 1.3333 and 1.3120. A rally above 1.3735 signals a new MT up-cycle, with first resistance at 1.3855.
USD/JPY Corrects Sharp Rally
After retracing 61.8% of the previous down-cycle, USD/JPY has retreated a bit, indicating the MT up-cycle may have completed with three channels-plus-extension at 90.67 (blue). However, if 89.43 holds, we could still reach targets at 90.91 and 91.10 in this cycle. More sideways consolidation could be setting up a larger channel to project a LT up-cycle, with initial target around the
