Hello traders,
its the last week of the month of September, let’s see what the market has to offer us.
1. GBP/JPY
On the GBP/JPY, the bulls put up a good fight towards the tail end of last week, but upon hitting the psychological key resistance zone, the bulls fizzled out.
The market closed on Friday giving us a doji, which further supports the fact that the week ended with buyers being weak. This week I will be watching for the close of another daily candlestick before deciding on my next line of action
If the bulls come alive and the key resistance zone is broken, price next resistance level would be 152.858, but if we do get a strong bearish candlestick that further authenticates our bearish bias, then price next bus stop will most likely be 149.270.
2. GBP/CHF
GBP/CHF was rejected the second time last week after hitting resistance level 1.27014.
Price also managed to break the key resistance zone before the close of the market last week. If the bears are still motivated this week, we may see price revisit support level 1.25677.
3. NZD/JPY
NZD/JPY closed last week with a minor pull-back.
There are two scenarios we may see unfold this week:
The bulls may drive price further up to 78.599, if 78.081 is broken, but if price resumes with sellers dominating, support level 76.906 will be seller’s next target.
What say you?
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