In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the February 12th session.
USD/JPY — The session was slightly bullish for this pair on Tuesday session. The 110.00 level continuous to offer strong resistance. You can wait for a daily candle close above this level to buy and aim for the 112.00 level. The market has been trading inside this ascending price channel. The 50-day EMA is rising and could offer strong support. So, you can wait for a pullback to buy for value.
AUD/USD — The Aussie was slightly bullish on Tuesday session. You can make an argument for a bottoming pattern. A break above the 0.6750 level is a strong bullish sign and you can target the moving averages above. However, this market looks attractive to sell rallies that show signs of weakness. The market has reached an area which was the top of the consolidation during the financial crisis.