Good day traders,
let’s go right into the market and see how we could mark some of the possible setups that could be viable for trading this Tuesday.
1. AUD/JPY
AUD/JPY is showing signs of a bearish reversal, upon confirmation, the bears could take price to hit the N.P.S.L (Next Possible Support Level) which is 76.351.
I doubt a bullish breakout occurring on this pair. However, if it does, the next resistance level should be 77.403.
2. NZD/JPY
On the NZD/JPY, price has been struggling to breakout from a key resistance level 77.153.
If there is a confirmation of a bearish reversal, we could see price hit the next support level (76.351). If a breakout from resistance level 77.153 occurs, the bulls should take price to the next resistance level 77.396.
NOTE: Once again, my bias for both pairs is BEARISH. If you are going to sell any of them or both, adequate confirmation and good money management technique should be observed as it concerns your trading system.
Do have a great day ahead, don’t forget to subscribe, comment and share.
