Hello Traders,
Let’s quickly hit the charts, I spot some trading opportunities…
1. GBP/JPY
On the daily chart, the GBP/JPY has been struggling with support level 132.166 since Thursday last week. I was already believing that the support level would act as a springboard to price, but I MAY have been wrong.
We are currently seeing price trying to break through the current support level. If price succeeds in doing so, there is a big possibility that the sellers stalking this pair may assist in pulling price to the next possible support level 128.164.
2. AUD/JPY
I have been stalking the AUD/JPY since last week’s price consolidation over support level 72.613.
Today, on the daily chart, we can see that there is a huge bearish candlestick suggesting we may have a bearish outlook for Wednesday.
Patience would be needed for the daily candlestick to close first before we can decide on what to do, if at all we trade this pair.
If there is a bearish confirmation, we should be looking at price heading to the next possible support level (70.834).
That’s all for today, join us again tomorrow for the break down of more viable setups.
As always… Remain pip-full.
