PRICE ACTION FOREX WEEKLY ANALYSIS

Hello Price Action Traders.

Eur/Jpy

Eur/Jpy, during the week, has consolidated in the 129.00 area not having a real direction. It’s definitely above the supports forming higher highs e higher lows keep rising and that’s lead me to be bullish about this market. The Pin Bar of 10 of July gave a slight boost to prices, which confirms my view. Just 128.00 area breakout would negate my vision and open space  to 125.50. Otherwise the next resistance levels are 133.00 area.

 

Eur/Cad

Eur/cad has reopened the road to a trend in favour of Cad in recent weeks dealing below the short-term moving average and supports at 1.3600. Last thursday, the price formed a clear price action naked signal, inability of buyers to remain strong at high price levels in the 1.3700 area, closing the day near to daily lows. My view is short, the support areas are 1.3470 first and then 1.3300.

Usd/Jpy

The Usd/Jpy forex pair has retraced back in the week and closes by showing an Inside Day kissing the moving average. In this case the break upwards of 100 could be nice to see strong bulls in the market but the breakout of 98.00 area could be interesting for selling pressures.

It’s all for today!

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