In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the July 7th session.
USD/JPY — The pair tried to rally on Monday session, but found the 107.50 level to be strong resistance. Also, the 200-day EMA above is strong resistance. To the downside, the 106.00 level is supportive. A breakdown below there is very bearish and the 105.00 level is the next target.
AUD/USD — This pair also tried to rally on Monday session, but the 0.7000 level seems to be offering strong resistance at the moment. Hence, rallies that show signs of exhaustion are to be used as selling opportunities. A breakdown below the 0.6800 level is very bearish and the next target is 0.6675 level. A candle close above the 0.7100 level will be seen as a