Price on AUDJPY moved higher and broke the important area that I mark as the daily support level. If we look the 4-hour chart below, we can see that price printed an Inside Bar and then moved higher. In my opinion, the inside bar is not quite obvious so I decide not open a long trade. I prefer waiting for the price to pullback and retest the old daily support level –which now act as the resistance level– and start looking for an opportunity to go long.
AUDJPY daily chart
AUDJPY 4-hour chart
I’ve been mention this pair on Nov 23. Price has broken through the resistance level on daily chart. On the 4-hour chart we can see that price has wound up and on its way to retest the old resistance level. I’m still hunting for the short opportunity at that level.
EURJPY daily chart
EURJPY 4-hour chart
Finally, price on EURNZD has broken through and closed below the daily support level. This level now acts as the new flip area, from support now become the resistance level. This level has potential becomes the area to hunt for short trade either in daily or intraday time frame.
EURNZD daily chart
EURNZD 4-hour chart