USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
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.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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