On the daily chart, AUD/USD stayed above the support at 0.7105 (78.6% of the long-term rising wave).
USD/JPY: bears are preparing a counterattack
TP1 107.95 TP2 107.35 TP3 107.15
On the daily chart of USD/JPY, there are high risks of the reversal of the short-term upward movement as the pair reached the 88.6% target of the “AB=CD” pattern and the doji bar was implemented in the 109.63-109.93 convergence. To continue the rally, bulls need to break the May high.
On H1, the “Spike and reversal with acceleration” pattern is continuing to implement. Breaks of supports at 109.50 and 108.95 will increase risks of the decline to the 88.6% target of the “Shark” pattern.
On the daily chart, bulls managed to lead NZD/USD outside of the downtrend channel. They are ready to trigger the “Shark” with 88.6% and 113% targets.
On the daily chart, EUR/USD managed to rise above resistance at 1.1750 and lead the pair out of the medium-term consolidation range (1.15-1.1750).
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...