Hello traders,
let’s see what Wednesday has for us:
1. GBP/JPY
The bears continue to ravage the GBP/JPY
On our Sunday’s analysis we predicted that the current support zone would get hit by price, and today we are not only seeing price at support zone 162.527-161.825, but we can also see that the bears are relentless in their quest to hit the next possible support level (159.676)
If the daily candlestick closes below the current support zone, then we may see price hit support level 159.676.
2. NZD/JPY
NZD/JPY is approaching support level 83.370. If we do get a breakout, we may see price continue its bearish journey to the next possible support level (81.736)
We should also be cautious and wait for confirmation before selling, because support level 83.370 could serve as a spring board that may send price back to resistance level (84.284)
What say you?
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