Friday market analysis: NZD/JPY, AUD/JPY & EUR/GBP

TGIF traders,

lets hit them charts:

 

1. NZD/JPY

A huge reversal today on the NZD/JPY. This may have been encouraged by the Thursday CPI news.

If the key support zone gets broken, then we may most likely see price hit the NPSL (81.129). There is also a possibility we get a reversal at this point, and if that happens, then we may see price hit a MRL (Minor Resistance Level) (83.658)

 

 

2. AUD/JPY

AUD/JPY also had a massive reversal today. The key support zone is something to watch out for.

A breakout may encourage more sellers to drive price to the NPSL, and a reversal may correct Thursday’s bearish reversal and send price back to the NPRZ

 

 

3. EUR/GBP

A breakout can be spotted on the EUR/GBP. If the 11 pm daily candlestick close confirms the breakout, then price next bus stop is most likely to be (0.90666)

This trade is most likely going to be a swing trade, so if it goes our way this Friday, we may most likely have to hold it over the weekend

what say you?

 

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