Watching the exotics and USDJPY....

The markets have been fairly quiet in the past few weeks surrounding mixed data from the US and the Eurozone. Whilst risk based markets are still pushing a little higher on the back of a perceived positive Greek vote all eyes will be on the Fed statement tomorrow evening for some clearer direction. Negativity surround Spain has been looked over due to a positive bond auction....it's a matter of time before reality sets it. Currently, the exotic cross pairs are where the moves have been as real money managers liquidate Euros for higher yielding assets such as Australian bonds, etc. Some charts that I am currently looking at:

USDJPY - Long - Off the horizontal, broken through the channel and now re-testing. If this is the start of the move up we expect to see higher highs and higher lows. Weekly's support extreme indecision at this level. An aggressive entry will be on the inside bar; a conservative entry on the break of the consolidation from 7 June's high - stop at the low; trailing stop on the weekly

EURNZD - Long - At a support level but still waiting for a clear trigger. Could be trading within the head and shoulders pattern....would support the horizontal resistance on NZDUSD at 0.8056

GBPNZD - Long - At a support level - horizontal and 78.6% and 61.8% Fib retracement cluster from previous swing lows on 15 Feb and 13 April to high of 23 May. Still waiting for a clear trigger in price action.

Happy trading and good luck out there!