USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/JPY: bulls make a trap
TP1 131.1 TP2 132.1 TP3 133.45
On the daily chart of EUR/JPY, the pair keeps going up to 127.2% and 88.6% targets of “Perfect butterfly” and “Shark” patterns. To encourage the rally, the pair needs to break the resistance at 132.6 (61.8% from the last medium-term downward wave).
On H1, there is the “Spike and reversal with acceleration” pattern. Bears try to counterattack and implement the “Shark” pattern. The rebound from the support near the 88.6% target will be a signal to buy.
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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