USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/JPY can attract sellers
SELL 111.25; TP 110.40; SL 111.50
SELL 110.20; TP1 109.75; TP2 109.30; SL 110.35
The Federal Reserve sent a dovish message this week. USD/JPY broke below the January-March support line and the picture for the pair turned bearish. So far, the US dollar has managed to get support around 110.40 (50-day MA, 23.6% Fibo). A decline below this level will open the way down to 109.75 and 109.30 (38.2% Fibo). On the upside, selling pressure will increase if USD/JPY returns to the 111.00/111.30 area.
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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