FX next week: 14 currencies, levels and ranges

From FX weekly, USD/JPY completed target at middle 143.00’s from the open at 140.97. Highs traded to 143.88. USD/JPY’s range trades from 144.03 to 143.53. Next week shorts target 142.54 then 142.04.

JPY cross pairs all trade above most vital levels and holds USD/JPY downside progress. Overbought NZD/JPY and AUD/JPY will lead the way lower next week.

GBP/JPY shorts must break 181.96 to target easily 182.29 then 180.67. EUR/JPY break 157.45 targets low 156.00’s and CAD/JPY 107.48 targets middle 106.00’s.

EUR/USD massive supports are located at 1.0897, 1.0892 and 1.0874. If the past is prologue to EUR/USD’s traditional trends from 1998 -2015 and 2014 to 2023 then EUR/USD achieves its significant low in January and trends higher for the year. EUR/USD dropped 146 pips for January.

EUR/USD ranges from 1.0897 and 1.0892 to 1.1061. The 5 year average is located at 1.1158. We’re long for next week to target 1.1022.

GBP/USD 2 big lines above 1.2785 and the 5 year average at 1.2832. The 5 year average is safe and won’t break next week. Overbought begins at 1.2736. GBP/USD ranges from 1.2585 and 1.2597 to 1.2785.

AUD/USD trades from 0.6781 to 0.6652. Above 0.6781 trades overbought while 0.6652 s expected to hold next week.

EUR/AUD higher must break 1.6389. Longs hold for next at 1.6180’s.

From Fx Weekly, GBP/AUD break above 1.8760 traded to 1.8863. Target completed for roughly 200 pips. Shorts target a break at 1.8770.

Oversold GBP/NZD and EUR/NZD traded to 2.0300’s highs and 1.7541 from 2.0100 lows and EUR/NZD 1.7300’s.

Overall Currency markets trade fairly neutral as we wait for a better price determination for next week longs and shorts.