In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the April 15th session.
USD/JPY — The market is now testing the 107.00 level. A break down below this level, then the 105.00 level is calling. To the upside, the 109.00 level is offering resistance. Then the 111.00 level will be targeted. The market is trading in a 200 pips range. Hence, pay attention to risk appetite at the moment.
AUD/USD — The market looks over extended at the moment. This is seen as a bear market rally at the moment. So, look for exhaustion towards the 0.6600 level, and sell the rallies. One of the reasons for the rise in this pair is the weakening of the dollar due to the Fed doing more quantitative easing. To the downside, the 0.6500 level is calling.