Hello Traders,
Let’s hit the charts:
1. USD/JPY
Price on USD/JPY is about hitting a key resistance level (110.693), hence forming a double top
A breakout may lead the bulls to the next resistance level (111.098), and a reversal means price may revisit support level 110.037
2. GBP/CHF
On the 1-hour time frame of the GBP/CHF, the ascending trendline has served as a decent area of support. We can also see that price three attempts to break resistance level 1.26678 proved futile
If the bears are well motivated, we may see price break the support zone this week, and head to the next possible support level (1.25412)
If the bears fail to break the key support zone, then price will revisit resistance level 1.26678 and the big question then will be:
Will the bears break the 1.26678 resistance level? If the 1.26678 resistance level is broken, then our next target resistance level would be 1.26992
3. GBP/JPY
On the 4-hour time frame of the GBP/JPY, price has reached a consolidation zone and a key resistance level.
A reversal this week means that price may most likely first revisit support level 150.676 before hitting support level 149.314, and a bullish breakout of the present resistance level will encourage the buyers to drive price to the next resistance level (153.429)
4. AUD/USD
The AUD/USD is locked within the consolidation band of the 4-hour time frame.
Don’t also forget that price present level is also an important resistance zone.
If we resume the week with a strong bearish presence, then price may hit support level 0.73004
What say you?
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