Hello traders,
Let’s hit them charts:
1. USD/JPY
Buyers were strong last week on the USD/JPY.
Price has reached the previous high (151.701) formed at the close of October. This week, there is a possibility that price may reverse, and retest NPSZ. But we may need an additional sell confirmations before selling
Also, there is a possibility that the current resistance level could get broken, so we may need an additional daily candlestick close to decide if the bulls will continue their campaign or the bears will take over
2. EUR/AUD
On the EUR/AUD, the bulls dominated all through last week.
Before the market closed last week, price had reached a key resistance zone on the EUR/AUD. This week, I will be waiting to see how the daily candlestick closes.
If we do get any clue this week that the bulls are getting fatigued, then we shall sell and have NPSZ as our next bus stop
What say you?
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