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Support: 1.0956, 1.0710, 1.0639, 1.0615Resistance: 1.3236, 1.3316, 1.3357, 1.3458AUD/JPYSupport: 133.76, 133.39, 132.35, 131.91Resistance: 1.2498, 1.2553, 1.2582, 1.2651Let us see how trading reversals from one of last week’s key levels could have worked out:I had expected the level at 0.9372 might function 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 with anat the start of last Tuesday’s London session, which is often a great time to enter trades in major currency pairs. The entry point is marked by the down arrow in the price chart below. This trade has been profitable, achieving a maximum positiveThat is all for this week.
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