USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/JPY: the yen liked the “Shark”
TP1 111.35 TP2 111
On the daily chart of USD/JPY, there is the rally to 200% target of the AB=CD pattern. To continue the upward movement, bulls need to break the resistance at 113.3 (61.8% from the last long-term downward wave).
On H1, there is the “Spike and reversal with acceleration” pattern. After bears broke the trendline of the acceleration stage, they aim to break the support at 112.2. If they succeed, they will be able to implement the «Shark” pattern with 88.6% target.
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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