USDJPY Bullish Engulfing Hourly Chart

Resistance: 82.53 minor Support: 82.14 minor/81.91 moderate/81.52 strong Bullish Engulfing is a moderately reliable bullish pattern in an already bullish market. At current levels USDJPY is already overextended, intraday traders should consider tightening their stops to pattern lows and avoid new positions. Swing traders should have their stops under 82.53 if not 82.14 while waiting for a further rally. Learn more about the chart patterns and how to recognize them in our Learning Center:

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USDJPY Bullish Engulfing Hourly Chart

USDCAD Morning Star (Doji) Hourly Chart

USDCHF Bullish Harami Hourly Chart Resistance: 0.9407 strong/0.9422 moderate/0.9444 minor Support: 0.9384 moderate/0.9369 minor/0.9347 minor Market bias for USDCHF is bearish with prices under a strong resistance level at 0.9407 the Pivot Point. Given that Bullish Harami is a low level bullish reversal pattern it is necessary to look for a close above the strong resistance first before taking action. Immediate objective when taking a buy should be a push for 0.9422 break of which opens 0.9444,

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USDCAD Morning Star (Doji) Hourly Chart

The currency pair was in a decent range yesterday

S&P 500 (Dec 12) INTRADAY Review Yesterday we had a balanced view with a upside bias which was reflected by our neutral long entry level at 1376.25. This proved to be the right view as the S&P was range bound for much of the session and the US cash open sell off lead by Hewlett Packard saw the index dip but bottom out 8 ticks above our entry level. The rebound took the index up to test key resistance at 1386.25 before Bernanke’s comments again reversed the direction and drove the price

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The currency pair was in a decent range yesterday