1) USDJPY Analysis
After doing a top down analysis on the USDJPY, it can be seen that there is a trend channel formation on the 4 hourly chart as shown on the picture below.
At the same time, you can see that the EMAs are flat which is a sign of consolidation.
The price may try to break the support and if it failed to do that, you can then trade the trend channel and make profit from the ranging movement.
2) EURUSD Analysis
On last Friday, the EURUSD manage to break the support and shortly after, it was bounced up and this is because the price has hit a major support on the daily chart. You can see on the picture below that the EURUSD is now moving within a trend channel on the daily chart.
You can take a look at the picture below to see the support.
On the 4 hourly chart, you can see that there is a strong resistance at 1.14303 and the price will likely go to test that level. If it manage to break above that level, I can say that the price will now move upward into a trend channel
I hope that this analysis will be useful for your trading this coming week.
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