USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/JPY: euro is weaker than yen
TP1 127.3 TP2 126.3 TP3 125.5
On the daily chart of EUR/JPY, bears managed to pull the pair back to the medium term downward channel and implement the “Shark” pattern. Its 88.6% target is at the level of 125.5. To rise, the pair needs to break above 128.85.
On H1, the pair keeps reaching targets of the “Shark” pattern. Bears are stronger, that’s why pullbacks with rebounds from resistances at 128.3 and 129.2 can be used to sell.
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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