Consolidating Thursday hits USD/JPY, EUR/CHF, AUD/JPY, XAU/USD

Hey traders,

Sorry, I have not been posting any analysis since my last post on Sunday. The market has been all over the place, so I had to wait to get viable trades before I share.

Without further ado, let’s hit the charts:

 

 

1. USD/JPY

USD/JPY has revisited a key resistance zone, and also formed a higher low after bouncing off support level 114.723.

If price breaks the presents resistance zone, we could see 116.340 get hit as the next possible resistance level. If the breakout fails, then we should be expecting price back at support level 115.039

 

 

2. EUR/CHF

A 7 years old support level (1.03128) is partially broken, and I believe most traders are gazing at this pair this very second

Because if the bearish breakout is confirmed, then we may see price fall over 2,700 pips to the next possible support level 0.74900

 

 

3. AUD/JPY

Price has re-visited a key resistance zone on the AUD/JPY. This time price has consistently formed higher lows which is a good sign of a possible breakout

A breakout means the bulls may take price back to a former resistance level (85.898).  If the breakout flops, then price may first fall back to support level 83.781

 

 

4. XAU/USD (GOLD)

Gold is currently resting on a key support zone, and a fine ascending trendline which is also serving as a support level.

If we do get a bullish confirmation, our target profit will most likely be 1945.33, and a breakout of the current support zone will mean price may visit support level 1892.69

 

What say you?

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