The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
AUD/JPY rising inside minor corrective wave (ii)
- AUD/JPY rising inside minor corrective wave (ii)
- Next buy target -79.00
AUD/JPY continues to rise inside the minor corrective wave (ii) which started earlier from the support zone lying between the key support level 82.00 (which reversed the earlier corrections 2 in May) and the lower daily Bollinger Band. The upward reversal form this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing. AUD/JPY is expected to rise toward the next buy target at next resistance level 79.00.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?