Get our ForexTrading strategies with our monthly & weekly forecast of currency pairs worth watching using support & resistance for the week of February 14, 2022.
Support: 1.1330, 1.1279, 1.1195, 1.1183Resistance: 1.3664, 1.3769, 1.3852, 1.3898AUD/JPYSupport: 130.62, 130.00, 129.31, 128.30Resistance: 1.2812, 1.2901, 1.2959, 1.3025Let us see how trading reversals from two of last week’s key levels could have worked out:I had expected the level at 116.29 might function as resistance, as it had acted previously as both support and resistance. Note how these “flipping” levels can work well.
The H1 chart below shows how the price rejected this level with a near-right at the start of last Thursday’s New York session , marked by the down arrow in the price chart below. This trade has been nicely profitable, achieving a maximum positiveI had expected the level at 1.2645 might function as support, as it had acted previously as both support and resistance. Note how these “flipping” levels can work well.
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