USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/JPY: yen is hunting for crabs
BUY 111.45 SL 110.90 TP1 112.45 TP2 112.85 TP3 112.95
SELL 110.15 SL 110.7 TP1 109.15 TP2 108.15 TP3 107.15
On the daily chart, bears are trying to keep USD/JPY inside the long-term downtrend channel. If they succeed, the odds of the pair going to 88.6% and 161.8% targets of the “Bat” and AB=CD will increase.
On H1, a break of resistance at 111.45 will allow buyers to counting on formation of the junior “Crab” and “Wolfe waves”. On the other hand, a decline below support at 110.15 will open the way down to 161.8% target of the senior “Crab”.
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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