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The Federal Reserve sent a dovish message this week. USD/JPY broke below the January-March support line and the picture for the pair turned bearish. So far, the US dollar has managed to get support around 110.40 (50-day MA, 23.6% Fibo). A decline below this level will open the way down to 109.75 and 109.30 (38.2% Fibo). On the upside, selling pressure will increase if USD/JPY returns to the 111.00/111.30 area.
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
How does the GBP/USD look like?
USD/JPY has declined from 111.70 and went into consolidation around 107.50.
AUD looks stronger, RBA keeps the rate steady. How positive is the picture?
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
The USD/CAD price has been falling down since March 19. What are the reasons?
