Daily Price Action
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Price Action Setups: USDJPY, AUDCHF, EURGBP and GBPNZD

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We have a lot of setups to talk about today so let’s jump straight in. The first setup I want to talk about is the bullish pin bar that formed on USDJPY. This pin bar is special because it occurred following an inside day. These patterns are often more reliable than a pin bar on its own.

This market is getting to be fairly extended up here, so keep that in mind if you trade this. That said, the pair isn’t showing any signs of stopping and if today’s bullish pin bar is any indication, this market may push higher in the days to come.

Summary: Opportunity to trade today’s bullish pin bar. A break below the tail of the pin bar would invalidate the setup. The next key resistance appears to come in around 110.66.

usdjpy daily forex chart

AUDCHF analysis

audchf daily forex chart

EURGBP analysis

eurgbp daily forex chart

GBPNZD analysis

gbpnzd 4 hour forex chart

 

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