The antipodean central banks are seemed to do pretty well with the weak currency. Aren’t they?
CAD/JPY reversed from resistance zone
- CAD/JPY reversed from resistance zone
- Next sell target - 82.20
CAD/JPY continues to fall inside the minor impulse wave (iii) which reversed earlier from the resistance zone lying between the resistance level 84.00, 20-day moving average and the former support trendline of the recently broken daily down channel from December (acting as resistance now after it was broken).
CAD/JPY is expected to fall further toward the next sell target at the support level 82.20 (which reversed the price at the end of March, as can be seen below). Strong resistance remains at the aforementioned resistance level 84.00.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...