Daily Market Analysis

CAD/JPY is sensitive to the market sentiment: if risk appetite improves, the pair will rise, while if traders become risk-averse, the pair will fall.

The price action seen at the H4 chart resembles an inverted “Head and Shoulders” pattern with a neckline at 1.1250.

The pair is going to test the nearest support at 110.54. This level could be a starting point for another bullish rally towards the upper 'Window'...

It's likely that the pair is going to test the closest resistance at 0.6756 - 0.6772 in the short term...

NZD/USD closed last week below the declining 50-week MA (0.6765).

We should watch the nearest resistance at 1.1304 by the upper 'Window' as the next target...

It's likely that the pair is going to touch the previously tested resistance at 0.7131. If a pullback from this level happens next...

AUD/CAD met resistance at the line connecting December and March highs.

There's a 'Tower' pattern, which has been confirmed, so we've got an ongoing bearish correction...

The main intraday target is the nearest resistance at 1.0009 - 1.0025. If a pullback from this area happens little later on...

The release of the US and Canadian data at 15:30 MT time will bring substantial volatility to the pair.

EUR/JPY has been trading within an uptrend channel since the end of March.