Welcome to the last trading day of the month, errbody!
Feel like making some more pips?
NZD/JPY looks ready to break above the 75.00 major psychological handle that’s also serving as an ascending triangle resistance on the 1-hour time frame.Bulls who think that the Kiwi’s current rally can’t be tamed can aim for a retest of January’s highs near 75.50.
If you’re not confident that the Kiwi can keep gaining on the yen, though, then you can also wait until NZD/JPY firmly trades below 75.00 again and then aim for a trip back to the trend line support.
Whichever bias you end up trading, make sure to keep close tabs on the potential catalysts that might influence NZD/JPY’s intraday prices!
Remember EUR/AUD’s range/breakout setup that we talked about earlier this week?
Well, it looks like the bulls came out to play! EUR/AUD jumped to as high as the 1.5925 area before the bears woke up and forced a rejection near the 200 SMA.EUR/AUD is now back at the 1.5800 zone, which presents a good entry opportunity if you’re seeing a break-and-retest situation on the 4-hour chart.
Euro bulls can buy at current levels and then look for a retest of the previous highs above 1.5900.
Meanwhile, EUR/AUD bears who believe that the longer-term downtrend is still intact may want to wait until the pair is back below the 100 SMA or at least trading firmly inside the range again.
Good luck and good trading this one!