EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
Trade setups for AUD/JPY
Information is not investment advice
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs. Bullish momentum has recently declined; we can see that the Awesome Oscillator doesn’t confirm price highs. On the upside, the obstacle lies at 71.35. AUD/JPY needs to break higher in order to gain ability to get to 72.10 (200-day MA). On the downside, we see significant support at 70.45 (100-day MA) and 70.15 (previous highs). Below this point, targets will be at 69.70 and 69.20.
Overall, the pair can make another attempt to test 71.20/35 area and then turn to the mentioned support levels.
Trade ideas for AUD/JPY
BUY 71.45; TP 72.00; SL 71.30
SELL 71.00; TP1 70.45; TP2 69.70; SL 71.25
NZD/CAD has reached a 200-week MA (0.8950) and formed a “shooting star” candlestick on the D1. On the H4, we see a lower high.
XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.
US stocks are set to open lower Friday, with investors worry over rising tensions between the US and China, deadlock over the next virus relief bill and possible disappointments from the key monthly employment report.
The pair was falling down amid the waning US dollar. However, the situation changed this month.
Dollar continues to keep firmer on the day, all eyes on the US jobs report later.