9^thNovember 2021 Technical Analysis

USDJPY

USDJPY fell on Monday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 113.205，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 113.300

Resistance level 2: 113.500

Resistance level 3: 113.750

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 113.050

Support level 2: 112.900

Support level 3: 112.700

Today, the United States will announce PPI data for October. Higher data indicate favourable to the  US dollar. Therefore, the USDJPY currency pair is bullish, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the USDJPY currency pair near the current level.

AUDUSD

AUDUSD rose on Monday, and the technical bias is bearish due to lower highs in the recent downtrend.

The pair is currently trading near 0.74022，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 0.74250

Resistance level 2: 0.74500

Resistance level 3: 0.74850

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 0.73780

Support level 2: 0.73580

Support level 3: 0.73350

Today, Australia will announce the Westpac Consumer Confidence Index data for November. Higher data indicate favourable to the Australian dollar, so it is bullish for the AUDUSD currency pair, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the AUDUSD currency pair near the current level.