NZDUSD,and USDJPY

Looking at NZDUSD, we are in a channel within a channel and has just reached short term support at 6768.

it is also the 1.618 extension from the high to the recent low at 1 Apr.

A rebound to 6830 will be a good place to reenter shorts.

A larger channel, is also seen on the daily.

channel support at 6838.


Disclaimer: I am not short the NZDUSD but may re-initiate shorts.

Looking at USDJPY, it is at channel support.

 

 

Since both NZDUSD znd USDJPY are at their support, NZDJPY will also be on its support.

So it will be a good time to take some profits and look to reshort higher, or on a break lower.

 

Disclaimer: I am short USDJPY