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.
How about USD/JPY?
BUY 109.20; TP 110.20; SL 108.95
USD/JPY made a sizeable move up last week. It retraced more than 50% of the December-January decline.
The new week started with a small gap down. The pair’s currently below last week’s high at 109.90. The bullish picture will likely prevail, although USD/JPY will probably be bought at lower levels. The buying area can be around 109.20 (50% Fibo). The next level to watch on the upside is 110.30 (61.8% Fibo, 50-week MA).
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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