MarketBreakdown | USDJPY, EURAUD, EURGBP, EURCAD
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1️⃣ USDJPY - Daily time frame
The pair keeps falling within an expanding wedge pattern.
Strong horizontal support is ahead.
108.3 - 108.5 is a strong area, from where a strong bullish wave may initiate.
Your confirmation to buy will be a bullish breakout of the wedge.
2️⃣ EURAUD - Daily time frame
Major rising trend line breakout.
Its retest may give a great opportunity to catch a bearish move.
Let the price retest that, then look for an intraday confirmation before you open the trade.
3️⃣ EURGBP - 2 Days time frame
0.873 - 0.875 is a major horizontal daily resistance.
Taking into consideration that the pair is quite overbought,
chances will be high to see a pullback from that structure.
Again, wait for a confirmation on 4h/1h before you short.
4️⃣ EURCAD - 3 Days time frame
The market is trading in a strong bearish trend.
Now the price is forming a retracement leg.
A trend-following move will most likely initiate from a major falling trend line.
Let the price reach that and then look for entries to catch a nice short.
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