AUDJPY Trade Analysis
Current Trend: Uptrend.
Support Levels: 77.08.
Resistance Levels: 78.45.
AUDJPY Daily Chart
AUDJPY Trade Ideas
Price on the AUDJPY has been in a strong move higher of late as shown on the attached daily chart.
In recent sessions price has moved higher and broken through the important daily resistance level. This level around 77.08 could now prove key in this market.
If this level can hold as a role reversal and new support level we could see price make a new extended leg higher.
This new support and role reversal area could also be a high quality area to look for long trades if price can make a quick retracement back lower.
Long trades from this level would be inline with the momentum higher and at a key support level.
AUDJPY 4 Hour Chart
GBPAUD Trade Analysis
Current Trend: Sideways range.
Support Levels: 1.7988.
Resistance Levels: 1.8286.
GBPAUD Daily Chart
GBPAUD Trade Ideas
We have been discussing this pair a fair bit in recent times. As both the attached daily and 4 hour charts show, price has been stuck in a tightly congested box and range pattern.
I have been waiting and watching to see if this box will break lower for potential short trades.
This market is very sideways and there is no clear trend higher or lower. Playing either range trades or looking for breakout setups is the best play.
Because of how tightly congested the range is I am only looking for potential breakout trades with a push lower and through the support around 1.7988.
GBPAUD 4 Hour Chart
