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AUDUSD approaching Daily Support

AUDUSD has been hit quite a bit as of late, Almost as bad as the NZDUSD which is the one of the few USD pairs that has broken to new lows.
Today we see the Aussie test the 88.6% fibonacci level on the daily chart, as well as major daily support at 7588. We may see the pair get bid here. A break below, can open up the downside.
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USDJPY Building up Stop Losses below 118.85

The USDJPY appears to be trading sideways for most of the year. The daily chart below, shows that 118.85 has become significant support as price has bounced from that level several times
Often in a range type environment, we can measure an equal distance from the high of the range to the low, to determine a possible target. The above chart has done exactly that to determine an approxiamete target in the case of a bearish break to be at 116.16.
The chart also shows a downward trendline in play as…
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