Consolidating Thursday presents us with EUR/JPY & AUD/JPY

Hello Traders,

Let’s hit the charts.

1. EUR/JPY

Despite the bearish outlook on the EUR/JPY, price is stalling within the consolidation band (Which is typical of price).

I still hold a bearish bias. All we need are more sellers in the market. Once the consolidation band is broken, we most likely will be looking at 119.215 as our next possible support level.

2. AUD/JPY

The AUD/JPY has the same structure as the EUR/JPY.

Price is held by the consolidation band, we just need a little more sellers in the market in order to break free from the band, and possibly hit 72.506 as our next possible support level.

That’s all for today ladies and gentlemen, join us again tomorrow for another review of the market.

Do have a great day ahead