The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
USD/JPY: 107.80 on the focu
USD/JPY has been favored by the bulls across the board, but it started to lose steam around 109.53, where a strong resistance was found. That’s why we would like to stick with the idea of a corrective move that could go towards the 200 SMA at 108.20, where is located the Fibonacci level of 50%. A rebound around such area could take the pair to test the -23.6% Fibo zone at 110.16 as the main target to the upside.
RSI indicator remains in the negative territory.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.