Good day traders,
Tricky Friday is here once more, let’s see if we could make some good profits while being cautious, before the market closes for the week.
1. NZD/JPY
NZD/JPY didn’t break a sweat while breaking support level 75.529.
The close of the 11 pm candlestick will reveal a lot. In my opinion, if the candlestick closes this way, we may most likely see a slight pullback before the bears take price to the next support level (74.140)
If the 11 pm candlestick retests the broken support level after it closes, the bulls taking price back to resistance level 76.312 or reaching the next support level as explained previously would be a 50/50 chance.
2. CAD/JPY
CAD/JPY has pretty much the same pattern as NZD/JPY.
CAD/JPY on the daily chart has a broken support level 82.359. All we need is a confirmation in order to support the current bearish move to the next support level (80.552).
Watching out for price not closing above the broken support level after 11 pm is also paramount. However, If that happens, we could see price consolidating around the broken support level before deciding on which direction price will move,
Wishing you all an awesome weekend, and do stay safe ladies and gentlemen.
