In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the February 13th session.
USD/JPY — The pair rallied on Wednesday session attempting to break the 110.00 level, which looks like strong resistance. The market is trading within this large consolidation zone between the 115.00 level and the 105.00 level. The market is going to be choppy until it breaks above the 110.00 level. To the downside, you can expect the bottom of this ascending price channel to offer support.
AUD/USD — The Aussie had a strong day on Wednesday. The market needs to clear the resistance at the 0.6775 level to go much higher. The market is trading just above the area, which represents the 2008 financial crisis. So, you can consider this market as oversold. However, keep in mind that this pair is influenced by the headlines related to Coronavirus situation in China,. If the situation stabilizes, then it will attract