Weekly Market Analysis: USD/JPY, GBP/CAD & GBP/CHF

Hello traders,

let’s hit them charts:

 

1. USD/JPY

A USDJPY chart

Last week the USD/JPY reversed from the previous week’s fall.

This has formed a higher low, and a breakout above the current resistance zone may mean buyers taking price to resistance level 151.942.

This week I will be waiting for a breakout above 151.942 on the daily time frame

 

2. GBP/CAD

A chart on GBPCAD

Last week, the GBP/CAD was one of my traded setups

The bears are in control, but it’s also important to note that price is at a key support zone. Meaning we could see price give us a minor/major pullback at this point, which I will not be interested in

I will be chilling to see if price breaks below the key support zone, and if that happens, I will be riding with them bears to NPSZ

 

3. GBP/CHF

Chart on GBPCHF

The GBP/CHF is one pair I am really keen on this week

Since October of 2022(12 months), NPRZ has held price, until last week when we saw a huge 135 pips drop to a key support zone.

This week we may most likely see a minor/major pullback before the key support zone gets broken (if it gets broken this week)

I may find a way of joining the pullback this week if risk/reward ratio is right

 

What say you?

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