Good day legendary traders
Today we have on our list just two setups on the 4 hours chart. Hopefully they play out before the close of the Friday market.
So, what are we waiting for?… Lets hit the charts.
1. AUD/JPY
AUD/JPY broke out from an ascending channel and it’s currently consolidating on a support level 80.581. Patience is required to see if price would break the current support and start a bearish drop to level 79.969.
On the other hand, if the bulls are strong enough, they could take price to hit level 81.474.
2. USD/JPY
USD/JPY is currently on a bullish run, and about to hit level 111.439. This critical resistance level may be broken, and if that happens, price should go above 111.704.
However, if the current resistance level is not broken, we may see price touch the descending channel at level 110.882.
In both setups, patience is paramount. A clean break by price would be needed as a confirmation before any decision to BUY or SELL.
Do have an awesome Friday and a beautiful weekend ahead
