Analytical Sunday presents us with USD/CAD, USD/JPY, AUD/JPY & XAU/USD

Hello traders,

let’s see what the charts have for us this week.

1. USD/CAD

Last week the USD/CAD broke a key resistance zone, which is currently a support zone.

A few hours before the market closed, a pullback occurred. This week we may see a continuation of price to the next possible resistance level (1.26258)

2. USD/JPY

Last week USD/JPY broke out from an ascending expanding channel, hit a key support level (113.482) before giving us a pullback.

This week I will be watching out for resistance level 114.416 and how well price would react to it. If price is rejected, then we could see price return to support level 113.482.

However, if the bulls are aggressive and continue to overpower the sellers, then price breaking the 114.416 resistance level means price next stop would be 114.968 

3. AUD/JPY

Price on the AUD/JPY closed with a minor breakout through the minor descending channel.

Price also gave us a gravestone doji at the close of the 3 pm candlestick (which signifies a strong bearish candlestick), but the market ended up closing for the weekend with a bullish candlestick.

In my opinion, price will most likely consolidate around the key resistance zone before continuing it’s bearish run to the next possible support level (80.726)

4. XAU/USD (GOLD)

Gold played within the blue zone (1815.15 – 1828.26) last week.

This week we may see a major move if price breaks either the current support level 1815.15 or resistance level 1828.26.

If support level 1815.15 gets broken, price next possible support level would be 1799.22, and if price gives us a bullish outlook this week, then price first target would be resistance level 1828.26

What say you?

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