In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the January 19th session.
USD/JPY — As you can see, this pair did pull back a little bit during the day on Thursday forming a bit of a hammer. I think it is pretty straightforward. If we break above the highs, we will probably continue to grind higher. Grind is the big thing, it is really about 112.00, that I feel that we break free. The 110.00 underneath continues to be a floor. A break down below there probably wipes out that entire move down to about 107.50.
AUD/USD — This pair has initially fallen and slammed into 0.8000. This is the beginning of serious resistance. I see a couple of areas to worry about. The top of the shooting star from Wednesday and then 0.8100. A break above this level turns this market into a buy and hold market. I suspect we will probably consolidate here with pullbacks offering buying opportunities as the market tries to build up the necessary momentum for the breakout.
© Prabhu for Forex Videos, 2018. |
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