Who’s ready to catch pips today?
Lemme show you what’s up on their 1-hour and 4-hour charts.
USD/JPY: 1-hourdollar will continue to kick the yen’s butt, then you can buy at current levels and aim for this week’s highs near 106.50 for a quick trade with a decent reward-to-risk ratio.
Not feelin’ the love for the Greenback? That’s aight, you can also plot your orders around a potential downside breakout (breakdow) that would take USD/JPY down to its 105.50 or 105.25 previous lows.
Watch this one closely, yo!
Is it me, or is GBP/NZD forming a head and shoulders pattern on the 4-hour time frame?For newbies out there, a head and shoulders pattern usually signals a reversal when it pops up after a strong upswing.
If the neckline and 100 SMA levels hold as support, however, then GBP/NZD could bounce back up to the 2.0100 “shoulder” highs or even hit the top of the pattern near 2.0250.
What do you think? Which way will GBP/NZD go?