NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
USD/CAD: loonie is breaking the trend
TP1 1.2715 TP2 1.292 TP3 1.325
On the daily chart, USD/CAD bulls managed to overcome resistance at 1.2462. If they manage to conquer the level of 1.2717, the risks of an inverted “Shark” pattern will significantly increase. Its 88.6% target is at 1.3250.
On H1, a break of resistance at 1.2533 will open the way to 1.2595 (88.6% of the last descending wave + 161.8% target of AB=CD). A successful test of this level will allow bulls to continue the rally.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...