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.
USD/JPY: the Dollar inside a Cloud
Technical levels: support – 108.30; resistance – 109.30, 109.60.
- Sell — 109.20/30; SL — 109.40 TP1 — 108.60; TP2 — 108.30.
Reason: bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the market entered inside a Cloud in correctional movement.
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.