Forex Videos

In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the July 10th session.

USD/JPY — The USD/JPY pair tried to rally initially on Thursday session, but the 107.50 level proves to be strong resistance at the moment. Also, the 200-day EMA above will be strong resistance. A break above this moving average is a strong bullish move to the upside and the 110.00 level could be the next target. This market looks likely to roll over and you can sell on signs of exhaustion. The next target to the downside could be the 106.00 level.

AUD/USD — The 0.7000 level is offering strong resistance at the moment. The area above this level is also seen as a strong resistance barrier. You can fade short-term rallies. This is a market also seen good for scalpers at the moment. The Fed is flooding with the market with liquidity. This could contribute to a bullish pressure. This could cause choppiness in the market as the market struggles to overcome the 0.7000 level at the moment.