In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the February 4th session.
USD/JPY — The Tuesday session saw the USD/JPY pair to rally strongly from the bottom of this ascending price channel. The market is now trading above the 50-day EMA. It looks like the market is moving towards the 110.00 level. Hence,
AUD/USD — The area from the 0.6700 level to the 0.6400 level is significant, because the market traded in this area during the financial crisis. The 0.6750 level is the next barrier to overcome. Also, this gap above the 0.6800 level needs to be filled. Hence, these are the levels, where you can expect sellers to arrive, and sell rallies that show signs of exhaustion.