USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/JPY: no one wanted to give in
BUY 126.9 SL 126.35 TP1 127.9 TP2 129
SELL 124.95 SL 125.5 TP1 123.95 TP2 122.95 TP3 120.3
On the daily chart, EUR/JPY reached 88.6% target of the “Bat”. If the current convergence area doesn’t stop bears, risks of transformation of “Bat” to “Crab” with target at 161.8% will increase.
On H1, there are prerequisites for a junior “Shark” in the area of 127.2 interim target of the senior “Crab” pattern. To trigger it, bulls will need a successful test of resistance at 126.90.
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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