This week has given us some big changes in the 1% point and figure charts.  This chart is considered longer term so any changes in the trend is a big deal.  It looks like the Japanese Yen (JPY) is getting weak and that is where we see many of the new trend changes.  It also looks like the Australian dollar and the New Zealand Dollar are gaining strength against the major currencies.  We have already talked about the NZD in our last post (Forex Investments – NZD/USD Trend Change) so we will focus on the other trend changes happening.

The AUD/USD has recently given us a buy signal above the trend line to confirm the trend change.  We had talk previously about AUD/USD trend in both the post (Forex Investment – Has the AUD/USD Trend Changed?) and (Managed Forex Account – Has the US Dollar (USD) Trend Changed?) and in both we were waiting for confirmation of the trend change and we now have that.  Looking at the chart you can see it has made a strong bounce up and we will now wait for a better chart pattern to occur before considering taking a position.

The GBP/JPY gave a buy signal above the trend line last week before pulling back exactly to the trend line and bouncing up to make another buy signal.  This chart is in a very bullish trend right now as it continues to ride up the trend line.

The CAD/JPY has also given a buy signal above the trend line as you can see on the chart below.

Like all the previous charts the CHF/JPY has a very similar story.  The chart shows a buy signal above the trend line confirming a trend change.

The NZD/JPY has now given us 2 buy signals above the trend line confirming the trend change.

It looks as though the Yen (JPY) strength we have seen for many months is now turning around.  At this time we are going to stay with out current position of being long the AUD/JPY as you can see in the post (Managed Forex Account – AUD/JPY Update).

If you like our technical analysis be sure to look at our other post on our forex investment blog and also take a look at our managed forex account.