Last week NZD/USD made a significant thrust to the downside.
USD/JPY: yen is moving through channels
SELL 108.5 SL 109.05 TP 106.4
BUY 109.75 SL 109.2 TP 112.1
On the daily chart, USD/JPY bulls are trying to leave the short-term descending channel. If they fail and bears manage to renew August low and conquer support at 108.03, risks of decline towards 127.2% and 161.8% targets of the AB=CD pattern will increase.
On H1, USD/JPY formed a “Widening wedge". The return of the pair to 38.2% and 23.6% of the wave 4-5 may be used for buying. On the other hand, another test of support at 108.54 can be used for selling.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…