In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the October 21st session.
USD/JPY — The dollar rallied initially on Tuesday session, but then pulled back from the 50-day EMA. This is a sign of weakness. So, rallies are likely to roll over, and you can look for the 105.00 level as the target to the downside. Only a
AUD/USD — The Aussie is facing resistance at the broken uptrend line. However, it has formed a hammer candlestick, which was preceded by a shooting star. Market participants are looking for the interest rate announcement from the RBA, which could have significant impact on this market.