Hey traders,
let’s hit the charts:
1. USD/JPY
USD/JPY looks interesting.
After the bulls broke resistance level 109.935, the present resistance level (110.693) is containing price for now, but later today we may see either the bears or the bulls rule.
If price breaks through the present resistance level, we could see price hit 110.693, and if price gives us a reversal confirmation, then our eyes should be on support level 109.135
2. USD/CAD
The bears rule the USD/CAD
We may see a pullback before price goes further down to hit support level 1.24380. What we do not know now is:
How far price will retrace before the bears dominate once again.
3. NZD/JPY
On the NZD/JPY, price is gradually approaching resistance level 77.341.
If the consolidation band (which is currently serving as a resistance zone) is broken, then we may see price hit 78.361 as the next resistance level.
If the bears are well motivated and price reverses at resistance level 77.341, then support level 75.886 could be our next possible support level
What say you?
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