Hello Traders,
let’s hit the charts
1. USD/JPY
After a slight pull-back of price on the USD/JPY, the bears today resumed their downward movement.
A key support level (105.183) in the process got broken by price. Let’s see how the daily candlestick closes.
If we still close bearish, then our next possible support level would be 104.799
2. GBP/JPY
There was a strong pullback of price on the GBP/JPY.
The pullback has retested resistance level 137.326. There is a possibility of price revisiting support level 135.900 if the bears are well motivated.
Being cautious and waiting for a confirmation before going bearish is important, because there is also a tendency for price to break through the key resistance level 137.461 – 137.748 before embarking on its journey to resistance level 139.166.
3. CAD/JPY
The CAD/JPY is locked within an ascending channel, and price is hitting a key support level (79.911) for the fourth time.
A breakout would mean price most likely hitting support level 79.083, and a bounce of price at the present support level may take price back to resistance level 80.445
What say you?
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