Currency Market Update for Week of July 29 - August 2.

The following is a short summary of the recent currency market charts that I have been following, updating in blog posts, and tweeting about.  

First, the dollar / yen (USDJPY) short trade that I have been tracking since July 7. Initial July 7 USDJPY Post. We have now broken some key moving average support on the daily chart and as long as the middle of the chart holds as resistance we should continue down to the lower part of the chart. Here is the updated chart:

Second is the NZDUSD long trade.  Link to NZDUSD Trade Setup.  This trade delivered as well. Here is the current chart update: I have recently (this week) been tweeting about a long trade setup in AUDUSD, but have yet to do a post on it. Here is the current chart with the setup:

The Australian Dollar has been lagging the Kiwi (NZDUSD) against the dollar. This is a bollinger band setup on the weekly. The goal would be a break back inside the bands and a run to the middle of the chart to assess.  The stop is the low. As with all setups, only the sands of time know if this will setup will succeed or fail.  Peace, Om,

SoulJester