FX Trade Journal

Indecisiveness in ending QE stimulus by BoJ and talks of further rate decreases has led to the Yen weakening. Amidst May month Greenback weakness it is anticipated that the USDJPY can test 110.00 support before the Fed rate hike in June  

Following strong Pound gains after May called for snap elections that will add momentum to the current stance for Brexit negotiations, UK treasury yields have been under pressure that will subtract from the any further GBPUSD gains during May month. One last rally anticipated to the 1.3100 level  

Expected CAD gains on profit taking and improvements in Canadian labor data following severe pressure from weakening oil prices and threats from Trump to impose trade measures against Canada. Support anticipated at 1.3500 - 1.3550 during May

Increasing dairy auction prices, stronger labor data and a higher inflation differential will drive the Kiwi to outperform the Aussie dollar relatively. Resistance anticipated at 0.7000 level

Mixed April labor data; strong job addition with a weakening unemployment rate as well as weakening commodity prices will offer relative little momentum to an AUDUSD rally during May month. Key resistance anticipated at 0.7550  

US Labor data showing signs of improvement in terms of wage growth and a low unemployment rate following the seasonal factors that caused weak labor data in the first quarter. As this upbeat data factors into retail spending and investments the greenback will find support especially with an anticipated rate hike in June. Key support anticipated at 12,050 - 12,150 levels.

In the last week, the BoJ has signalled what seems as the end of it's extensive QE program as inflation picks up across Japan. With the mildly weaker Greenback we can expect some of the strongest gains for Yen in the upcoming weeks. Key support levels at 112.00 and 111.50 Upcoming Trades Entry to long @ 112.00 with t/p 113.40 and s/l @ 111.50 Entry to short @ 113.40 with t/p @ 111.50 and s/l @ 114.50

Weak investment data in Canada will add weight to selling pressure of the CAD and with a mildly weaker Greenback we can expect the USDCAD to consolidate into 1.3300 - 13500 range for now with limited upside potential beyond the 1.3600 level Upcoming Trades Entry to long @ 1.3300 with t/p @ 1.3500 and s/l @ 1.3200 Entry to short @ 1.3550 with t/p @ 1.3300 and s/l @ 1.3670