USDJPY

Although weekly signals had been bearish for the 2nd half of March, last week’s buying from close to the 200 week average rate and 109.93, a 50% pullback to the Nov-Dec gains has switched this week’s signals to bullish. Contrary to these investors sold the market on Monday, a loss of ½ Big Fig ending a sequence of higher daily lows. This is short-term negative and with signals continuing to point lower the outlook for Tuesday is to sell on the open with a stop loss at 111.15, Monday’s Marabuzo line. Targets are to 110.11/18, March’s low trades, 109.50 and 108.50.

AUDJPY

Despite last week’s bounce, selling from close to the 100 day average rate has kept this week’s signals pointing lower. These are so far being confirmed, investors selling the cross on Monday to end a sequence of higher daily lows with losses of almost ¾ Big Fig. There has been further selling in Asia this morning and with signals continuing to point lower the outlook for Tuesday is to short on the open and then at 84.33, today’s open in Asia with a stop loss at 84.65, Monday’s Marabuzo line. Targets are to 83.50, 83.10 and 82.50, a 50% pullback to the entire Nov-Feb rally.