Good evening great traders,
Tuesday has come knocking on our trading door once again. I am excited, because I always see Tuesday’s as the beginning of the trading week.
Let’s head to our charts.
1. EUR/JPY
A major breakout from a key support level (130.885) has occurred on EUR/JPY.
We may see a pullback in the first few hours of the Asian session before we see the bears take price to the next support level (127.891) before the end of the trading week.
2. AUD/JPY
The bears have taken price to a key support level (79.787).
If the current support level gets broken, we should see price hit the next support level (78.675) before the end of the week.
In my opinion, we may see a little consolidation around the current support level, before the next move which could be a breakout or reversal, if you are having plans to take this trade, thread with caution.
3. CAD/JPY
Price is currently sitting on a key support level (87.085).
How the 10 pm candlestick closes at this point matters
If there is a breakout below the current support level, we may see price hit the next support level (84.724, which is the base of an ascending channel) before the close of business on Friday, on the other hand, if the current support level rejects price, we may see the bears take price back to a former resistance level (89.201)
Kindly comment if our analysis has assisted you in any way or if you have contrary views
Do have a great day ahead.
