USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/JPY: euro is hunting sharks
TP1 130.90 TP2 132.00 TP3 133.40
On the daily chart, bulls counterattacked after EUR/JPY reached 161.8% target of AB=CD. They managed to return the pair inside the previous consolidation range of 129.15-132.15. If the pair moves to its middle, it will trigger a “Shark” pattern with 88.6% and 113% targets and “Shakeout-Fakeout” pattern.
On H1, if EUR/JPY rises above the upper border of the downtrend channel, it will increase the odds of the pair getting to 88.6% and 113% of the “Shark”.
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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