NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
AUD/USD: bears are still in charge
SELL 0.6940; TP 0.6900; SL 0.6955
Last week we recommended selling AUD/USD as it reached the resistance of the long-term downtrend. The indeed turned out to be correct. The pair formed a “double top” pattern at the resistance line that has been in place since the start of 2018. As bears make it pierce more levels on the downside, we get the new sell target - 0.6900. If the comments of the Fed’s chair Powell are less dovish this week, there will be potential for the further decline to 0.6830 (June low).
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...