Japanese Yen – USD/JPY continue to decline lower and breakout below its 111.65 support level after price rejected its 113.20 resistance level as we expected in our 17th November 2017 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind while traders who missed this shorting opportunity may hunt for potential short setups if price pullback into its 111.65 resistance level (Previous support level) to jump on the bearish trend.
Pound Loonie – GBP/CAD rally higher after price rejected its 1.6670 support level as we expected in our 17th November 2017 Market Outlook. Traders who went short as we recommended may consider continue holding onto the long position with a trailing stop behind as price is likely going to continue to rally higher in the near term.
Pound Dollar – GBP/USD continue to consolidates within its 1.3330 resistance level and 1.3040 support level over the last few months. If price is able to breakout above its 1.3330 resistance level, we are then likely going to see further rally coming into this market in the coming days and traders may consider buying into this market at the breakout of 1.3330 resistance level to jump on the potential bullish momentum.