AUD/USD formed an inverted "Head and Shoulders’ and is targeting 0.7815, 0.7840, and 0.7860.
AUD/JPY is at resistance
Information is not investment advice
AUD/JPY has reached the resistance line which is going down from September highs. The 100-period MA on the H4 chart is about to get below the 200-period one. Both lines limit the price action on the upside, around 72.70. The pattern on the H1 looks like “Spike and Ledge”: the break of the ledge’s lower border at 72.40 will bring the price down to 72.28 and 71.95. The switch to buying will be possible at 72/85, above the resistance line and the recent high. In this case, the target will be at 73.30 (previous resistance area).
USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
USD/CAD reversed down from 1.2865 last week and formed a candlestick with a long upper wick on the W1.
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