MAY 24 – MAY 29 WATCH LIST dmacinc May 24, 2020 Weekly Watch List Comments NZDJPY: Still Ranging Same from last week. Still trading within the range. GBPJPY: Bullish Divergence. Time To Buy? Got a nice bounce off the major QP 1.7000 but bulls failed to clear the previous high. Let’s see if the bulls are ready to flex their muscles this week. GBPJPY: Descending Channel With Bullish Flag Would like to see price drop down to retest the major QP 130.00. This is a key psychological level so it may attract buyers, giving us a nice entry to go long. EURJPY: Ready For The Next Bull Run? Had a nice break out of the descending channel followed by a pull back just shy of the 50 fib. I would like to see price drop a little bit more to retest channel resistance, which also has a 61.8 fib confluence. EURAUD: Ranging Not a lot going on with this pair, a lot of sideways movement. Need to wait for more development. AUDJPY: Ascending Channel Right now this pair is trading in the middle of no man’s land. There has been multiple rejection at the major QP 70.000. Price was also rejected at the 38.2 fib. My initial bias is neutral. I would like to see a 3rd touch of the channel resistance or support.