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Happy Friyay, forex friends!

I know you don’t want to miss out on chart opportunities so today Imma tell you what’s up on ETH/USD and GBP/JPY’s charts.

Take a look and see if you can make trades out of these setups!

ETH/USD: 4-hour

ETH/USD 4-hour Forex Chart
ETH/USD 4-hour Forex Chart

The moving average crossover in November 2021 presented a GREAT time to short ETH/USD especially since the crypto has dropped from $4,500 to the $2,500 area since then.

Take note that ETH/USD consolidated in tight ranges before extending its drop at least two times during its downtrend.

This info is relevant today because the pair is in another consolidation just as it hit the $2,500 area of interest.

Are the bears done dragging ether? Look out for a clear break above the current consolidation, which could push ETH/USD to the $3,000 zone near the SMAs and previous inflection point.

If ETH/USD follows its previous breakout patterns, though, then we could see a downside breakout that would drag the crypto back down to the $1,800 support.

GBP/JPY: Daily

GBP/JPY Daily Forex Chart
GBP/JPY Daily Forex Chart

Trend playas huddle up! GBP/JPY is retesting a trend line support that hasn’t been broken since mid-2021.

What makes the chart more interesting today is that the 100 and 200 SMAs line up with the trend line AND that Stochastic is giving us oversold signals.

Pound bulls who are confident that Guppy can extend its daily chart uptrend can start buying at current levels and scale up on bullish momentum.

If you think that the lack of higher highs means that GBP/JPY will soon see a reversal, however, then you can also start watching out for a clear break below the trend line.

You never know when these breakouts start or how long they last so you better know GBP/JPY’s average volatility before you start placing orders!