Japanese yen is still weakening and Australian dollar getting stronger. Most currency pairs however, does not respect technical levels and currently there are not too many potential PA setups. Let’s start today’s market review:
AUD/NZD:
Cross is currently breaking the resistance and today’s closing will decide whether the trend would continue or is it just a false breakout. For now, we have strong PA sell signal which can let us to open small, short positions. But the ideal scenario would be closure over resistance and then it test from the top.
EUR/AUD:
Next currency pair without USD. Dynamic downtrend passes a temporary correction, which may and with resistance challenge. Sell signal in its surrounding will be an opportunity to join the market and earn on current slippage.
USD/JPY:
US dollar against Japanese yen is now in the key point. As in the case of AUD/NZD it is not known yet whether the recent really will continue or is just another false breakout. Today’s closing is the most important factor here.
It’s all for today. I hope that tomorrow markets will give us more Price Action signals. Stay tuned!
