Hello Traders,
Let’s hit the charts…
1. AUD/JPY
AUD/JPY completely shredded and burnt our weekly analysis, if you missed it, you can check here
After the buyers took charge of the market on Sunday, we are presently seeing price returning to a key resistance level (74.522)
At this point, our patience would be needed to see if price would either reverse and head back to support level 72.430 or breakout through the present resistance level and head towards a former resistance level (75.676).
2. EUR/JPY
On the daily chart of the EUR/JPY, price spent the first half of the week reversing to hit key resistance level 121.221.
Though the market has an overall bearish outlook, which means that we most likely would see a reversal of price back to 119.837. We can’t also rule out the fact that price may most likely break the present resistance level and head to a former resistance level (122.421).
That’s all we have for today folks. I wish you a pip-full day ahead.
