Good day traders,
For those traders who are in profits, can we consolidate on our position this Thursday?.
For those trader’s who are on break even, can we end the week with profits this Thursday? and
For those traders who are on a negative position, can we still hit profit this week?, and if not, can we at least end the week with a break even or a less deficit position?
If your answer is a resounding Auu Auuuu Auuuuuu!!!, let’s hit the markets and mark our targets.
1. EUR/JPY
After price hit a critical resistance level (129.221), price immediately reversed and formed a bearish pin-bar.
Price is currently resting on a support level (128.270), in order for us to take any position, we need a clear confirmation.
A bearish breakout should take price to the next support level (127.610) and a reversal at the present support level should take price to the previous resistance level.
2. USD/JPY
Though price on USD/JPY on a daily time frame is currently on an ascending channel, price has hit the resistance level (114.238) of the channel and is currently on a bearish reversal.
This may not be my favorite setup, however price may most likely hit its next support level (112.836), before it continues it’s bearish move all the way to level 111.911.
That said, do have a grand Thursday and please don’t forget to comment, share and subscribe.
