USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
USD/JPY: yen is in demand
2019-11-11 • Updated
SELL 106.8 SL 107.35 TP1 105.8 TP2 105.35 TP3 103.00
SELL 105.35 SL 105.90 TP1 104.35 TP2 103.35 TP3 103.00
On the daily chart of USD/JPY, there’s a sustainable downtrend. As long as the pair is below 107.9-108.2, bears are in control. A break of support at 105.35 will increase the risks of decline to 161.8% target of AB=CD and convergence area of 102.8-103.2.
On H1, the inability of bulls to keep the pair above the upper border of the triangle and reach 78.6% of the Gartley pattern is a signal for selling.
CHF/JPY retraced 61.8% of its August-September decline, corrected down, formed a higher low above the 100-day MA and now seems eager to rise to the 78.6% Fibonacci level at 116.90.
U.S. stock markets opened higher on Monday, buoyed by hopes for a last-minute agreement on a comprehensive fiscal stimulus package before the elections on November 3.
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
The USD is trading at its 7-week low, and it looks like it will continue falling further. Why?
Is Donald Trump better than Joe Biden for the stock market or not? And for Forex? Read the article, and you will know.