Support: 1.1323, 1.1261, 1.1250, 1.1229Resistance: 1.3606, 1.3638, 1.3709, 1.3769AUD/JPYSupport: 130.64, 130.51, 129.94, 128.97Resistance: 1.2738, 1.2812, 1.2901, 1.2959Let us see how trading reversals from two of last week’s key levels could have worked out:We had expected the level at 115.02 might function as support, as it had acted previously as both support and resistance. Note how.
This trade was nicely profitable, achieving a maximum positiveWe had expected the level at 1.2812 might function as resistance, as it had acted previously as both support and resistance. Note how these “flipping” levels can work well.
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