Hello traders
let’s see what the charts have for us this week.
1. USD/JPY
Last week USD/JPY started a downward move after hitting a key resistance level (116.322)
On the way south, sellers were stopped by a key support level (115.033). This week if support level 115.033 is broken, we may see the sellers continued journey to the south, and support level 114.206 get hit.
Resistance level 115.609 is also a resistance level to look out for. If buyers break it, then we may see price re-test resistance level 116.322
2. GBP/JPY
Tripe tops on the daily time frame of the GBP/JPY encouraged sellers to come into the market and pull price down to a key support zone.
This week we may see price consolidate between 155.891 and 157.721.
The major move we should be watching out for is when price breaks support the support zone, and starts another bearish journey to support level 153.142
3. AUD/JPY
On the AUD/JPY, an ascending channel has got price trapped within it.
One thing to note is:
The key support zone may most likely fail this week since price is bearish on the daily time frame. If that happens, we may see price hit support level 80.827
What say you?
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