Charts I’m Watching: Jun 3, 2014

Watching the USDJPY this morning, as it tries to decide whether to push through the SMA100.  A reaction off the channel line and .500 Fib would make sense.

2014-06-03-USDJPY daily 0600

The direction should determine whether stocks continue their run or not.

2014-06-03-USDJPY 30 0600

The Nikkei had a big day yesterday, breaking out of the triangle it’s been in since the beginning of the year as well as the SMA200.  Now, it’s bumping up against some potentially important Fibs.  Backtest of the SMA200 at 14811 or the triangle itself?

2014-06-02-pebble

Harmonics haven’t been terribly effective lately, but there is a potential Gartley Pattern at work in ES.  If it’s to play out, we could see a backtest of the broken white midline first.

2014-06-03-ES 30 0600

GLTA.

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