Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/JPY broke resistance level 149.40
- GBP/JPY broke resistance level 149.40
- Next buy target - 152.00
GBP/JPY recently broke through the resistance level 149.40 (which stopped the previous A-wave earlier this month). The breakout of the resistance level 149.40 accelerated the active minor impulse wave C which belongs to the intermediate impulse wave (2) from the start of March. GBP/JPY is likely to rise further toward the next buy target at the next resistance level 152.00.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
After EUR/USD broke the 1.1180/1.1070 range to the downside, it has been trading within the short-term downtrend.