It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
CAD/JPY is testing lower levels
SELL 80.20; TP 79.25; SL 80.45
Risk aversion persists and so far there are no signs that the situation will improve. CAD/JPY is a natural pick for trading in this kind of environment. The pair is testing levels below 80.50 - the area that limited the decline in 2017 and 2018. The downtrend continues as we witness the series of lower highs on the chart. The next target on the downside may lie at 79.15 (78.6% Fibo of the 2018-2019 advance).
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
The New Zealand dollar seems to be tipping out against the USD. Will that be another full cascade downwards?
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The Canadian dollar broke out through the 1.40 psychological mark. What’s the reason?
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