USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/JPY looks vulnerable
SELL 111.20; TP 110.75; SL 111.35
USD/JPY failed to close last week above the 200-week MA at 111.85. This is a bearish sign. The decline below the 50-week MA at 111.25 will open the way down to the support line and 100-day MA at 100.75. The short-term outlook will remain negative as long as the pair’s trading below the weekly pivot at 111.77.
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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