USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/JPY: bears pull the EUR down
SELL 127.55 SL 128.1 TP1 126.55 TP2 125.75 TP3 123.1
On the daily chart of EUR/JPY, there are implementations of the "Broadening wedge" and "Shark" patterns (88.6% target). Bears need to break the supports at 126.55 and 125.74 (78.6% and 88.6% from the 4-5 wave) to restore the middle-term downtrend.
On H1, bears managed to pull the pair towards the lower border of the consolidation range between 127.55 and 130.1, which was formed as a part of the "Spike and ledge" pattern's implementation. If the support at 127.55 is broken, it will increase the risks of the implementation of the AB=CD pattern's 200% target.
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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