EURJPY Trade Analysis
Current Trend: Sideways box.
Support Levels: 123.00.
Resistance Levels: 125.13.
EURJPY Daily Chart
EURJPY Trade Ideas
Price on the EURJPY is now looking to move higher and test the major daily chart resistance level.
As the attached daily chart shows, this resistance around 125.13 has held as a strong level and rejected prices back lower four times in the past few months.
With that being said, the last rejection of this level was a weak one and price could not make it back to the recent lows.
This is of interest because it shows that the bears may be losing steam and the bulls could be looking to build momentum for a breakout higher.
I am now watching this pair closely for a break of these recent highs that could activate long trades.
EURJPY 4 Hour Chart
GBPNZD Trade Analysis
Current Trend: Downtrend.
Support Levels: 1.8903.
Resistance Levels: 1.9093.
GBPNZD Daily Chart
GBPNZD Trade Ideas
Price on this pair has been moving lower in a solid trend in recent times.
The attached four hour chart shows this the best with price forming a series of lower highs and lower lows.
Price is now consolidating and has formed a daily chart inside bar.
If price can make a rotation back higher into a value area, then it could be a good time to look to enter short trades with this trend lower.
The overhead resistance looks like it could provide a high quality area to look for these potential short trades.
GBPNZD 4 Hour Chart
