USDJPY – Large Corrective Structure + Resistance Approaching (4hr chart)
Since the 8th of Feb, the USDJPY has been banging between 114.85 and the 111 handle with 3 touches on both barriers. What is most interesting is the consistent buying since the 14th, almost as a slow levitation, potentially the beginning of some accumulation.
Regardless, for now I’m maintaining a neutral to bearish bias while we are below 115 on a daily closing basis looking to sell weak rallies. Downside I’d be looking to target 111 with potential scope for a move towards 110.
AUDNZD – Corrective Structure Persists, Bullish Bias While Above 1.10 (4hr chart)
Since the 9th of March, the corrective structure we’ve talked about is marching …