T.G.I.F Tradeeeeers,
Don’t mind me guys, I am always excited on Fridays, I think one of the reasons is because I don’t get to trade most times, and I also believe I schedule my Friday’s to be fun days.
Well, whatever the reason is, let’s hit the charts and see what the market has to offer.
1. USD/JPY
The USD/JPY seems to be getting prepared for a breakout of resistance level 107.930.
In my opinion, it could be a FALSE BREAKOUT.
My reason is that the second resistance level (108.329) has to be tested before we can confirm that price is bullish.
A reversal at the present resistance level may most likely send price back to support level 104.720.
That said, if the second resistance level is broken, price will most likely go on a bullish rampage to the next possible resistance level (109.289)
We are done with our daily analysis. Join us again on Sunday for another weekly analysis.
I wish you an awesome weekend, and for all the football fans, catch you guys at the stadium
