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.
USD/JPY: bears are strong
TP1 110.6 TP2 107.85 TP3 105.64
On the daily chart of USD/JPY, the pair reached targets of the “Three Indians” pattern. Bears are ready to break below the bottom line of the upward channel. If they are able to stick below the support of 111.6 (50% of the downward long-term wave), risks of the sharp decline will increase.
On H1, a break of the bottom line of the upward channel became a signal of the bearish attack. To success, bears need to resume the pair within the previous consolidation of 110.2-111.6.
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.