Hello Traders,
How has your trading week been so far?
For me, it’s been quite slow and to a great degree, unpredictable. That said, I am hoping the last two days in the week turn out to be fireworks.
That said, let’s head to our charts and see if we could make some decent pips from these setups:
1. NZD/JPY
For close to two weeks, we have seen NZD/JPY locked within a consolidation area.
A bearish breakout below support level 71.573 should send price on a bearish frenzy to our next possible support level (70.152)
A bullish breakout through resistance level 72.136 may most also encourage price to hit the next possible resistance level (73.844)
2. USD/JPY
USD/JPY is currently hanging on a balance.
Are the Bulls going to win the war?
Or
Are the Bears going to prove their superiority?
A bearish breakout through the current support level may most likely send price to the next possible support level (109.806) and a bullish confirmation may most likely send price to the next possible resistance level (110.654)
This setup is a 50/50 setup, and I would recommend a smart money management principle if traded at all
That said, I am off to my sniping post alongside my trading community. You could join us via our facebook link below.
Do have a pip-full day ahead.
