Gold (XAUUSD) is showing a bullish setup, bouncing off a key demand zone within a rising channel, which suggests a possible move higher. But with tensions rising between Iran and Israel, there's a chance we could see sudden spikes as investors look for safe-haven assets. On top of that, the upcoming FOMC statement and interest rate decision could bring heavy...
As we are currently trending in a bearish channel we could be looking for possible sells as price is retracing to an area of supply around price point @1.12650 . On the other hand if it does continue moving bullish with strong momentum we could be looking for possible buy entries @1.2900 once enough confluences have been met
USDJPY is currently at an area of support on the weekly timeframe @138.530 , however on the lower timeframes its in a strong bearish trend . If we break above the last lower high on the H4 timeframe @140.550 I open to taking buys if all my confluences are met
UPDATE : As I mentioned in my previous trade idea on GBPJPY , GJ is still currently trending bullish on the higher time frames , however we may be seeing retracements back to 166.900 before continuing bullish once more to 169 then ultimately to 172
GBPJPY is currently trending in a strong bullish market on the higher time frames so its highly possible that it may continue bullish if it breaks the resistance at the 169.000 region , however if it fails to do so we may see retracements down to 168.000 & possible 166.900
