Welcome in today’s Price Action setups review. The whole week was quite boring and today – before the markets close – we have few really interesting setups. Let’s closely look at AUD/JPY, AUD/NZD, EUR/JPY, GBP/JPY and USD/JPY.

AUD/JPY:

Currency pair broke below very strong support and it may mean a deeper fall to the next key level. In the case of former support test (now resistance) and PA sell signal occurrence it will be worth to consider short positioning.

AUD/NZD:

Finally it was possible to test the key support – we see the buyer first reaction and there is no doubt, that we should closely observe the cross. In the case of clear PA buy signal occurrence it is possible that the price will rejoin the upward trend.

EUR/JPY:

euro to yen stopped at important support level. It was rejected – on the H1 chart we can clearly see pin-bar candle, which may be considered as purchase signal. It is worth to remember though, that the lower the timeframe, the weaker the signal is.

GBP/JPY:

Next pair with Japanese yen and also strong demand reaction after support challenge. Pound sterling is really strong and breaking the former highs may lead to dynamic upward move.

USD/JPY:

Currency pair moves in broad consolidation and for the 6th time is trying to break below 101.20. No doubt, we have really strong support and we should look for buy signals here.

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