In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the July 30th session.
USD/JPY — The USD/JPY pair has been bearish and could now test the 105.00 level for support. Also, the FOMC statement was negative for the US dollar. This level looks psychologically significant. A break below the bottom of this candlestick is bearish and the 102.00 level could be targeted. So, rallies that show signs of exhaustion are to be sold. The 50-day EMA above could be strong resistance.
AUD/USD — The Aussie looks set to go higher. The market broke out of this ascending triangle pattern recently, with a measured target coming at 0.7300. So, buying dips should be seen as value at the moment.