Forex Report, 27 Jan'15

Know the forex report, dated 27 Jan'15 at 3:54 AM. To get the forex signals in your mail, Register Here. 

AUD/USD

The AUD/USD broke higher during the course of the session on Monday after initially gapping lower, but still it has to deal with the 0.80 level above, which was once massively supportive. With that being the case, it should now be resistive and if it happens then we will see selling opportunities. In fact, it’s possible it could be a long-term signal to start selling the Aussie. On the other hand, above the 0.83 level we would consider buying the Aussie.

USD/JPY

The USD/JPY broke higher during the course of the day, but still remains within the consolidation area in which we are from some time. With that, we believe that the market still continues look bullish overall, but really at this point of time, it seems to be taking a bit of a break. Ultimately, we believe the market is going to reach for the 120 level, and then the 122 level. Above there, we should head to the 125 level, and we believe the pullbacks will continue to be buying opportunities.