Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
USD/JPY: 'Shooting Star' led to decline
There are the 'Engulfing' and 'Hanging Man' patterns, which both have been formed at the last local high. So, there's an opportunity to have a local bearish correction. In this case, we should keep an eye on the nearest support at 109.86. A pullback from this level could be a departure point for another upward price movement towards the upper 'Window' (110.77).
The price is declining because of the last 'Shooting Star'. The main intraday target is the closest support at 109.87. If we have a pullback from this level little later on, there'll be a moment to have a bullish price movement in the direction of the next resistance at 110.77.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
After EUR/USD broke the 1.1180/1.1070 range to the downside, it has been trading within the short-term downtrend.