Here is today’s report …

Jun. 21
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EUR/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.2100
Key G7 support levels: 1.2350, 1.2250*, 1.2150/80
Counter-trend opportunities: 1.2480
Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.
Today’s trade suggestion:
A very deliberate (and yet pedestrian) march higher has created yet another bullish week for the euro. This means we look to buy the currency into dips at the support levels listed above. 1.2250 is the key level early in the week. Some caution is needed: The long hourly trend line and the 8 day chart “soldiers” means that a significant correction is needed before more bullish momentum can be generated. If the hourly trend line breaks, the price could drop sharply to supports at 1.2250 and 1.2150/80. Notice the strong hourly stochastic divergence.

Countertrend
traders might still like to try small shorts from 1.2480 after a clear G7 entry signal.
Summary:
Buy dips to supports after a clear G7 signal. Try counter-trend shorts at 1.2480 after a decent g7 entry signal.

USD/JPY
Weekly Trend direction: Bearish
Weekly trend reversal level: 92.20
Key G7 resistance levels: 91.10, 91.40, 91.80/92.00
Counter-trend opportunities:

Strategy: Whilst below the weekly trend reversal level sell rallies to resistance levels after an entry signal

Today’s trade suggestion:
It’s been a while since the dollar turned bearish vs. the Yen. As we have been chopping around above the weekly trend line in a tight range for weeks, there isn’t much significance to the weekly candle direction. However, we’ll
go with the short direction and look to sell the dollar into rallies. Resistance lies overhead at 91.10, 91.40 and 91.80/92.00. We’ll watch and wait for a G7 entry signal before selling the dollar for a target of 90.00 and then 89.20. This is such a messy chart that avoiding this pair is probably the best strategy if possible.

Summary:
Sell the dollar into rallies to the resistance levels above after a clear g7 entry signal. Target 90.00 and then 89.20. Stay out if possible!