GJ Hits Supply, NU Heads Lower

Last week I was monitoring key levels on both the pound and USDCHF. GBPUSD fell whilst USDCHF engulfed supply. We have some more key levels to watch this week which I'll detail below:

CADJPY - Short

Price has returned to a rather large daily supply level. When price was last here, it fell hundreds of pips. It's a good one to watch now that we have a second touch. There's a series of green daily candles on arrival so we'll see if this pair wants to hold on this second test.



EC is also back at an old level. Price has hit this demand level numerous times in the past already and it's come back once more. There's a nice arrival with only red daily candles, so we'll see how price reacts on return.


GBPJPY - Short

GJ has returned to supply on the daily and there's pretty much a clear path of green daily candles. If this supply wants to hold again, there's a long way that price could potentially fall.



NU is on its way back a demand level its' been steaming towards for the past couple if weeks. I'll be watching for a reaction on this one too.


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