Price Sells off Into Intraday SupportAfter trying to make a fresh yearly high on the daily chart, the EURJPY formed a bearish pin bar that sent prices tumbling lower.
Price is now looking to breakout the intraday support level as you can see on the 4 hour chart.
The trend and momentum are still very much higher on this pair and the 125.11 level look solid areas to watch for potential bullish price action clues.
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Near Term Resistance Looks KeyPrice action on the daily chart of the AUDCAD has formed a top and has been unable to breakout to create new highs.
As the 4 hour chart shows; after forming a period of consolidation, price has broken lower and moved into the intraday support level.
If price can now rotate back higher, the old support could look to be a new price flip resistance and a potential area to look for smaller time frame short trades.