Weekly Price Action Setups & Key Levels | Feb 12-17

usdjpy false break price action 2ndskiesforex

My Current Active Open Trades: USDJPY, EURUSD, AUDUSD, AUDNZD, XAUTHB

USDJPY – False Break + Impulsive Buying = Bullish Bias ST (1hr chart)
After trying 2x to break the key support level around 112, the USDJPY has formed some bullish impulsive price action, clearing the key ST hurdle around 113.50 and 114 we talked about in prior commentaries.

ST to me this creates a bullish bias while above 113 on a daily closing basis. For now I’m expecting the USDJPY to head towards the key resistance level around 115.30 before some profit taking emerges.

I’m currently long and will update members in the course on the next commentary how I’m handling my open trade on this pair.

AUDNZD –

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