AJ & CJ Hit Supply, EG Heads Lower

Both AJ & CJ hit supply level last week so both are at key levels. I'm sure we'll see a reaction this week.

AUDJPY - Long/Short

Price is at the key supply level now I'll definitely be watching this one this week. A reversal would send it lower, but I can't rule out this pair going higher on an engulf.

2016-12-11-aj-short-d1

 

CADJPY - Long/Short

CJ has had a strong move into this level so I'll be watching. Above this supply there is a clear run of red daily candles, so if price does engulf the supply, we could see a higher.

 

2016-12-11-cj-short-d1

 

EURGBP - Short

EG had a bounce from demand last week but didn't manage to rally too much before falling. I'm still monitoring this one to see what happens.So after the GJ engulf of supply, the pair still looks bullish as it continued to rally last week. The next supply level is a good way off so we could definitely have a runner.

Price could try to get higher again or there could be shorts on an engulf of the demand.

2016-12-11-eg-short-d1

 

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