USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
GBP/JPY may go lower
SELL 141.65; TP1 140.70; TP2 140.00; SL 141.90
GBP/JPY will remain under negative pressure as long as it’s trading below the weekly pivot point at 143.30. On W1, the 50-week MA went below the 100-week line — a negative sign. On D1, the pair met the resistance of the 100-day MA and formed a lower high.
Still, this may just be a correction within the uptrend which took place since the start of January. As a result, selling will be sensible on a break of support in the 141.85/70 area with the target at the 38.2% Fibo and the psychologically important level (140.00).
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.
Oil prices have been climbing up for a long time. What have stopped them?
There has been some movement in the EUR/USD chart. What's happening?