AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
USD/CAD: there are uncertainties
BUY 1.317 SL 1.3115 TP1 1.327 TP2 1.3315 TP3 1.35
SELL 1.305 SL 1.3105 TP1 1.295 TP2 1.2915 TP3 1.289
On the daily chart of USD/CAD, bulls and bears are fighting for the upper boundary of the downward channel. Bulls are trying to pull the pair to the 113% target of the "Shark" pattern. Bears hope for a pullback within the transformation of the "Shark" pattern to 5-0.
In H1, the "Spike and ledge" pattern has been forming. If the pair leaves the 1.305-1.317 consolidation, chances that the pair will reach 113% targets of the junior and senior "Shark" patterns will increase.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.