We had expected the level at 75.53 might act as resistance, as it had acted previously as both support and resistance.
Note how these “flipping” levels can work well.
The H1 chart below shows how the price rejected this level near the start of last Tuesday’s Tokyo session, typically a great time to be trading currency pairs or crosses comprising the Japanese Yen and currencies in a similar geographical position such as the Australian Dollar, turning decisively bearish when a bearish doji candlestick broke down at the down arrow shown in the price chart below.
I'm expecting a bullish trend as JPY fundamentals shows weakness in Yen.
Note how these “flipping” levels can work well.
The H1 chart below shows how the price rejected this level near the start of last Tuesday’s Tokyo session, typically a great time to be trading currency pairs or crosses comprising the Japanese Yen and currencies in a similar geographical position such as the Australian Dollar, turning decisively bearish when a bearish doji candlestick broke down at the down arrow shown in the price chart below.
I'm expecting a bullish trend as JPY fundamentals shows weakness in Yen.