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Plannin’ on staying away from the dollar today?

I’ve spotted key inflection points on CAD/JPY and AUD/NZD that you’ll want to watch.

Get ’em while they’re hot!

CAD/JPY: Daily

CAD/JPY Daily Forex Chart
CAD/JPY Daily Forex Chart

First up is a nice and simple range play on CAD/JPY. As you can see, the pair just popped up from the 78.50 handle, which lines up with a support from a 275-pip range on the daily time frame.

If y’all missed the bounce, don’t worry. Stochastic has just left the oversold region and the pair still has some ways to go before hitting the 81.25 range ceiling.

Buying at current levels would make for a good risk ratio if the Loonie did reach the 81.25 area.

If CAD/JPY broke down sometime in the next trading sessions, though, then you’ll definitely want to target areas of interest just below the 76.75 zone.

AUD/NZD: Daily

AUD/NZD Daily Forex Chart
AUD/NZD Daily Forex Chart

Here’s another one for the comdoll geeks out there!

AUD/NZD looks ready to bounce from the 1.0600 major psychological handle that has supported the Aussie against the Kiwi at least thrice since the pair traded above the level this year.

What makes the Aussie’s chart more interesting is that Stochastic has yet to leave from the oversold area. Oh, and check out the 200 SMA support chillin’ around the 1.0600 MaPs!

Think the bulls can keep Aussie above 1.0600? A long trade at current prices would make for a good trade if AUD/NZD heads back up to the 1.0900 highs this year.

Meanwhile, a break below the support could drag the Aussie to the 1.0350 or even the 1.0100 previous areas of interest.

Forex Chart Settings:

Slow Stochastic: 14,3,3
100 SMA: Blue line
200 SMA: Red line