Weekly Market Analysis: USD/JPY, EUR/JPY & CAD/JPY

Hello Traders,

let’s hit them charts:

1. USD/JPY

The last time USD/JPY hit the key resistance level was April this year, and before then, it was March 1990.

This week we may see a deep pullback, reversal or a breakout. I will be interested in seeing how Monday’s daily candlestick closes before deciding on what to do next.

If we do get a reversal candlestick authenticating our bearish bias, then we may see price revisit NPSZ. If Monday’s daily candlestick close breaks the current resistance level

2. EUR/JPY

EUR/JPY has the same outlook as USD/JPY

Patience will be needed to see how price closes on Moday’s daily time candlestick.

I will be updating us whatever the outcome on Monday/Tuesday

3. CAD/JPY

CAD/JPY has the same outlook as EUR/JPY and CAD/JPY

The only difference is that, price still got some miles to run (66 pips) before hitting the key resistance level

Once price hits the resistance level, we will be updated

What say you?

NOTE:

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