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  • Vasily Trader

MarketBreakdown | USDJPY, EURNZD, GBPAUD, AUDUSD



Hey traders,

here is a brief technical outlook of 4 peculiar instruments in my watch list.


1️⃣ USDJPY - Monthly time frame πŸ‡ΊπŸ‡ΈπŸ‡―πŸ‡΅


What a crazy bullish rally on yen pairs.

For many days USDJPY is unstoppable.

Being heavily overbought, the price is approaching a key monthly structure now.


114.5 - 115.0 is a supply cluster on focus.

Chances will be high to see at least a pullback from that.


2️⃣ GBPAUD - Daily time frame πŸ‡¬πŸ‡§πŸ‡¦πŸ‡Ί


GBPAUD remains bearish .

Recently the price broke and closed below key daily structure support .

Trading within a falling channel , a further decline is expected to lower structure levels.


Consider the boundaries of a channel for your trend-following/counter-trend entries.


3️⃣ EURNZD - Weekly time frame πŸ‡ͺπŸ‡ΊπŸ‡³πŸ‡Ώ


1.631 is key weekly structure support .

Look for a confirmation on lower time frames to catch a pullback.


Alternatively, its bearish breakout will lead to a strong bearish rally.

For trend-following trading short the breakout.


4️⃣ AUDUSD - Daily time frame πŸ‡¦πŸ‡ΊπŸ‡ΊπŸ‡Έ


The pair is growing throughout October.

Being relatively overbought the market is approaching a key daily structure resistance .


0.7475 is a key level on focus.

Look for confirmation on lower time frames to short the pair.


*By confirmation I mean a reversal pattern being formed on 4h/1h time frames.

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