Good day traders.
How was your trading day today?
Hope great.
Let’s hit those charts and see what the market has for us this Thursday.
1. CAD/JPY
CAD/JPY has a bullish engulfing candlestick on the 4 hours time frame.
Looking at the ascending trend line, there is a great tendency that the bulls may most likely, take price to the next resistance level (84.380) after a minor or major pullback.
2. NZD/JPY
NZD/JPY on the 4 hours time frame has got price breaking out of an ascending trend line at a key support level (76.190)
The big question of whether this breakout is true or a fakey, will be answered by the close of the 11 pm candlestick.
If the breakout is true, we may see the bears take price to the next support level (75.412) and if the breakout is false, there is every likelihood that the bulls may start a bullish movement of price to the next resistance level (76.527)
Do have a pip-full day ahead.
