Opportunistic Wednesday presents us with GBP/JPY & AUD/JPY

Hello Traders,

let’s hit the charts:

1. GBP/JPY

Today we saw some of the JPY pairs go heavily bearish, and the GBP/JPY was no exception.

Support level 152.810 was broken, but there is a possibility that we may see a pullback before the bears continue with their job.

If price forms a consolidation around the 152.810 resistance level, then gives us a bearish confirmation, we may see price go further down to support level 151.470

2. AUD/JPY

Price broke a strong ascending trendline today after the Australian Dollar lost value to the Japanese Yen

Price is presently resting on a key support zone. If the bears are well motivated this Wednesday, we may see price break the current support zone, and head to the next possible support level (82.299)

On the other hand, we should not also be in a hurry to sell this pair, because price may retest the 83.247 before going further down

What say you?

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