In this video, the Trader Guy looks at the currency pairs USD/JPY and NZD/USD for the August 22nd session.
USD/JPY — We did not do much during the trading session on Friday, but that is not a huge surprise. After all, the 100.00 level as you can see has offered support and it is a psychologically significant barrier. If we can break above the top of the range for the Thursday and the Friday session, I think we could go higher for the short-term, because the Bank of Japan could very well get involved in this area. If we break down below the 99.00 handle, the market could very well go lower, but again, you have to worry about the Bank of Japan as they are not amused with the situation.
AUD/USD — We have broken down significantly below the shooting star and now looks as if the market is going to try to go lower. At this point in time, I think there are far too many areas where we could see support. So, pay attention as we have formed two shooting stars on the weekly chart, that is negative. But I think this is a pullback in order to build enough momentum to break out. Gold has a big influence on the Aussie as well. So, pay attention to that, if it rallies, this market should as well.