USDJPY closed positively for a 3rd day in a row. The pair has retraced 61.8% of the decline that was initiated on OCT 17th, the monthly highs. Price actions this month has been moderate and the pair hasn’t produced major moves. Current levels could offer some resistance for the pair. Below 98.5 leaves bias to the downside, a daily close above 98.5 would shift bias to flat.
EURUSD has been rallying higher since July 9th lows. The pair has gone up more than a 1000 pips in 2 ½ months. Price action is in a formation of higher highs and higher lows which indicates on a solid bullish trend. One way to trade this trend is to buy dips at support levels as long as the bullish trend remains intact.
Kiwi dollar has declined more than 300 pips in 7 days of trading from the monthly highs posted on OCT 22nd at 0.8541. The pair formed a low today at 0.8211 and quickly bounced up as the pair found support at those levels. This level acted as support at Sep 25th as well. A break below those levels targets 0.8156 next. Resistance is at the Monday highs at 0.8330.