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

Hello Traders,

let’s hit them charts:

1. USD/JPY

Last week Thursday we saw the USD/JPY crash followed by the heavy news events on the USD

We are starting this week with price resting on a key support zone, and also some red folder news events on Monday. I will be waiting to see how Monday daily candlestick closes before I make any decision.

That said, if we do get a breakout below the current support zone, then price next bus stop is most likely going to be NPSZ, but if we do get a rejection, then we may see price re-visit NPRL

2. GBP/USD

In reaction to last week’s bearish USD, we can see GBP/USD having a strong bullish outlook after breaking through the key resistance zone, which is now a key support zone

This week, I am bullish on the GBP/USD, and we may see price hit resistance level 1. 31359

3. AUD/USD

AUD/USD and GBP/USD have the same outlook.

I will be starting my week by seeing if I could grab some pips from either AUD/USD or GBP/USD before the red folder news in the afternoon

4. CAD/JPY

On the CAD/JPY, price is sitting pretty on a key support zone

I will be waiting for the close of the daily candlestick before making my decision.

A break below the present support zone, and I will be looking for sell opportunities to the NPSL. However, if we do get a rejection, then I will be chilling for the CPI news on the CAD before I decide on what to do on the CAD/JPY

What say you?

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