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Buy for USDCAD posted to TAP at 10:02am ET at 1.0310. Buy for USDJPY posted to TAP at 10:04am ET at 85.76.
Looking for directional purpose on both pairs. On the USDCAD there has been a break of the 4 hour trend line to the upside. Now looking for it to gain some support to confirm the break for the next leg to the fib near 1.0388. Needs to break next resistance at 1.0340. On the JPY there is more of a long term focus because the indicators for this trade come from the daily chart. The trend line on the daily has been down for several months. In the past few days we have seen a few days holding above the trend line and hovering around the 85.75 zone. As long as it stays above the trend line I am focusing on the buy side with potential legs to 86.50 and 87.50.
USD/CAD Chart Picture
USD/JPY Chart Picture
Everybody is really talking about this resistance and support points. its something i will have to look forward to.
have a pip filled day everybody
I think i have watch carefully before investing anywhere, thanks for awareness.