In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the February 17th session.
USD/JPY — The market saw a sideways price action on Friday. It has been trading inside this ascending price channel. The yen is not lately seen as a safe haven as Japan's economy is on brink of recession. To the downside, you can expect the 50-day EMA could offers support. A break below, then you can expect the channel bottom, which is the 108.00 level to be supportive. To the upside, the 111.00 level is the target.
AUD/USD — The trading session was initially bullish, then the market rolled over. The market is going to be choppy for a while. The market is trading above the area, which was the top of the consolidation zone during the financial crisis of 2008. A break above the 0.6775 level is significant.