{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-1st-to-5th-of-feb-2021\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-1st-to-5th-of-feb-2021\/","headline":"Weekly Price Action Trade Ideas \u2013 1st to 5th of Feb 2021","name":"Weekly Price Action Trade Ideas \u2013 1st to 5th of Feb 2021","description":"Weekly Price Action Trade Ideas \u2013 1st to 5th of Feb 2021 Markets Discussed in This Week\u2019s Trade Ideas: USDJPY, GBPJPY, AUDCAD, CADJPY. Note:\u00a0We Use Correct \u2018New York Close 5 Day Charts\u2019 \u2013 You can read about why we use these and how to download the correct free charts at\u00a0Correct Free New York Close Demo […]","datePublished":"2021-02-01","dateModified":"2021-02-01","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/02\/USDJPYDaily.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/02\/USDJPYDaily.png","height":627,"width":1200},"url":"https:\/\/forexschoolonline.com\/weekly-price-action-trade-ideas-1st-to-5th-of-feb-2021\/","about":["charts","Price Action Charts in Focus"],"wordCount":499,"articleBody":"Weekly Price Action Trade Ideas \u2013 1st to 5th of Feb 2021Markets Discussed in This Week\u2019s Trade Ideas: USDJPY, GBPJPY, AUDCAD, CADJPY.Note:\u00a0We Use Correct \u2018New York Close 5 Day Charts\u2019 \u2013 You can read about why we use these and how to download the correct free charts at\u00a0Correct Free New York Close Demo Charts USDJPY Daily ChartPrice Flip Support Looks the KeyAt the end of last week price slammed higher and through the key daily chart resistance on this pair.As the daily chart shows below, this level has been an important level in recent months holding as both a proven support and resistance level.We could once again look for this level to be a key level if price can move back lower. If we can see a new test of this level it could act as a price flip support level and it could be a good area to hunt for new long trades.Daily Chart GBPJPY Daily ChartWill Price Retrace Into Support?Since September of last year this pair has been in a steady trend higher.Price has now continued on with this trend and broken out of the daily chart resistance level.Looking to trade inline with this trend looks the best play whilst it holds.If price can rotate lower back into the old resistance and new support level it could be a solid level to look for long trades.Daily Chart AUDCAD Daily ChartWatching for PullbacksThis pair is currently attempting to make a new reversal back lower on the higher time frames.As the daily chart below shows, price broke through the key support level at the end of last week.This level looks crucial in the coming sessions. If we are going to see any sort of extended move and reversal lower, then this level is going to have to hold as a new price flip resistance level.Daily Chart CADJPY Daily ChartWatching for Breakout HigherA potential breakout higher is building on the higher time frames of this pair.Price in recent times has attempted to break the daily chart resistance on multiple occasions, but so far has been unable to make a breakout.This could change in the coming sessions and the breakout could come with some strong momentum.This is definitely a pair to keep a close eye on in the coming sessions for potential long trades.Daily Chart Trade Ideas Note: All views, discussions and posts in the \u2018charts in focus trade ideas\u2019 are the view of Forex School Online and are not recommendations or trading advice. All posts are general in nature and are not advice to buy or sell.Note:\u00a0We Use Correct \u2018New York Close 5 Day Charts\u2019 \u2013 You can read about why we use these and how to download the correct free charts at\u00a0Correct Free New York Close Demo Charts Please leave questions or comments in the comments section below; "}