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.
EUR/NZD may test the uptrend
Information is not investment advice
Have a look at the pair EUR/NZD as it might present some interesting trade ideas. The pair’s been in an uptrend since the end of March. Last week, it reached resistance around 1.72 (January high) and then turned down forming a doji with a longer upper wick on W1.
It means that the air will likely test the uptrend support line at 1.7065/50 in the short-term. If the pair manages to rebound from this level, it will get a chance to revisit 1.7200. Conservative buyers may enter above 1.7140. However, the ADX indicator shows that the uptrend is losing strength. Still, as long as the trend is intact there are bigger odds that it will continue. A decline below 1.7050 will open the way down to 1.6990 (50-week MA) and probably 1.6925 (200-day MA).
Ichimoku Kinko Hyo AUD/JPY: The pair is trading below the cloud…
March's NFP is coming. Does it bring strength for the USD?
Ichimoku Kinko Hyo CHF/JPY: The pair is trading above the cloud…