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.
GBP/JPY has bullish momentum
Information is not investment advice
GBP/JPY has formed a higher low, retraced 50% of the February-March decline, closed above 134.40 on Wednesday and is trading above the March high. The pair seems to possess positive momentum. The logical upside target is at 136.90 (61.8% Fibo). Support lies at 134.40 and 133.70. As long as the pound is trading above the latter, the bullish movement will be the main scenario. The decline below 133.70 will open the way down to the 132.00 area.
Trade idea for GBP/JPY
BUY 135.60; TP 136.90; SL 135.30
SELL 133.65; TP 132.40; SL 133.90
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
USD/JPY has recently formed a higher low at the end of last week. Today the pair is testing levels above the 50-day MA.
Asian equity markets resumed the weak performance seen across global peers which culminated in Wall St’s worst day in over a month
Surging coronavirus cases and a stalemate in Washington over the next fiscal aid bill darkened the economic outlook in the run up to Nov. 3 presidential elections.
GBP/USD has bounced off the key support of 1.30 and turned to the upside. The pound is widely anticipated to rally further amid rising hopes for the end of Brexit talks this weekend on Halloween.