AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
USD/ZAR: a potential top
SELL 15.10; TP1 15.05; TP2 15.00; SL 15.12
Yesterday USD/ZAR formed yesterday a bearish engulfing pattern on the D1. The pair also formed a lower high on H1 and H4 and fell below the short-term support line at 15.15 - this level is now acting as resistance. As long as the price stays below it, it’s vulnerable for a decline to 15.05 and 15.00. As a result, small bearish bets seem like an interesting option.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.