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.
EUR/JPY: bulls want to continue the party
TP1 131.70 TP2 133.40 TP3 136.70
On the daily chart, EUR/JPY keeps forming the junior “Ideal butterfly” pattern and the senior “Shark”. Bulls managed to settle above an important support at 131.05 (50% of the last medium-term descending wave) and are ready to continue the rally.
On H1, EUR/JPY is forming a “Spike and reversal with acceleration”. Bulls are dominating at the market, so pullbacks to dynamic support (EMA21) may be used for buying.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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.
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