The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
USD/JPY holding near key support
USD/JPY is hovering around a key support area in the 105.68 level, which coincides with the Fibonacci level of 78.6%. There is a kind of double bottom pattern in formation that could allow more gains across the board and if the pair manages to resume the bullish structure, the next target would be the -23.6% Fibonacci area at 107.78. To the downside, the nearest support lies at 105.24, ahead of the psychological level of 105.00.
RSI indicator stays in the negative territory.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
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.