Hello Traders,
We are finally coming close to the end of another trading week.
Before the market closes for the week, let’s check out two great setups.
1. EUR/JPY
On the daily chart, we can see a bearish EUR/JPY almost resting on support level 120.749 within an ascending narrowing channel.
Judging from the weekly time frame, this pair is highly bearish, and I believe that the present support level may not be too strong to hold price.
If price breaks out, we could see another bearish rampage to the next possible support level (119.253).
2. CAD/JPY
The CAD/JPY on the daily chart has a horizontal channel which is a primary setup and a secondary setup which is an ascending triangle.
Currently, price is resting on support level 83.281. A bearish breakout will most likely encourage price to hit the next possible support level (81.881)
That’s all we have for today ladies and gentlemen.
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