USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
CAD/JPY formed a “shooting star”
SELL 81.20; TP 80.85; SL 81.35
CAD/JPY formed a “shooting star” candlestick on D1. This means that the pair will likely move down in line with the overall downtrend.
On H1 and H4, there’s a lower high. As a result, the decline below 81.20 (50% Fibo of the June 18 - June 20 advance) will open the way to 81.07 and 80.85. The outlook will remain negative as long as the pair is below 81.50.
Notice that Canada will release retail sales figures at 15:30 MT time today. The forecasts are negative.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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