In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the October 31st session.
USD/JPY — As you can see, the USD/JPY pair fell a bit during the course of the session on Friday, as 105.00 seems rather resistive. Now that we have pulled back, found a bit of support at the 104.00 level. Now, with this, I think that we continue to grind to the upside and given enough time, we will rally. The 103.00 level below is supportive. There is support all the way down to this level. So, I am buy only of this pair.
AUD/USD — As you can see, we fell a bit during the course of the session on Friday and then turned around to form a hammer, as I had suspected that pullbacks could be buying opportunities. Gold markets rallied during the day. So, that is a good sign as well. I believe that we are going to continue to grind to the 0.7750 level. If we can get above there, then it is likely that we go to 0.8000 level. I think that happens, given enough time. It is not hard to notice that there is an uptrend line that we are still paying attention to.