The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
USD/JPY: pair to achieve the next resistance
The lower 'Window' acted as support, so there's a 'High Wave' pattern. Therefore, the pair is likely going to achieve the next resistance at 110.27. If a pullback from this level forms afterwards, there'll be a moment for another decline towards the closest support at 109.63.
There's a bullish 'Three Methods' pattern, so the market is likely going to continue moving up in the short term. In this case, if a pullback from the nearest support at 109.87 happens next, there'll be a green light for an upward price movement in the direction of the next resistance at 110.25.
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.