It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
CAD/JPY: the stronger yen
SELL 80.64; TP1 80.40; TP2 80.00; SL 80.80
The Japanese yen keeps strengthening versus other currencies as the market remains in the risk-averse mode. CAD/JPY is in the long-term downtrend and is now making another leg down. Yesterday the pair failed to close above the 50% Fibo level in the 81.00 area. Today the exchange rate slipped below 61.8% Fibo, and the next target is the 78.6% Fibo level at 80.40.
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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