Risky Monday presents us with AUD/USD & AUD/JPY

Hello traders,

let’s see what the market has for us this week.

 

 

1. AUD/USD

Since last week, the AUD/USD lost its bullish steam just below the key resistance zone. 

Waiting for the close of the daily candlestick will be wise before taking this trade. If the bears give us a go-ahead to sell, then we should be targeting support level 0.69992.

However, if the resistance zone gets broken, then price will most likely hit the upper end of the key resistance zone (0.72572)

 

 

2. AUD/JPY

AUD/JPY has a similar setup as AUD/USD. The only difference is that the AUD/USD has a better reward if price reverses.

But…, if price continues its bullish ascension, the AUD/JPY, has a better reward (83.869) than the AUD/USD

 

What say you?

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