AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
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 USD started the day dropping against the Canadian dollar, now on a bullish reversal.