EUR/CAD has approached the support line from the end of October.
USD/JPY: bulls will make a stop
- BUY 112.85, SL 112.30, TP 114.00
- BUY 111.85, SL 111.3, TP 114.00.
On the daily USD/JPY chart, the pair ran into the convergence area of 114-114.55 (23.8% of the long-term bullish wave – 61.8% of the descending medium-term wave). This together with the realization of the interim target of 78.6% of the inverted "Shark" pattern creates the potential for the short-term correction.
On H1, USD/JPY wasn't able to overcome resistance at 113.93 (78.6% of the last descending wave) that points at the weakness of bulls. The pair may now return to support at 112.85 and 111.85.
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...