EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
USD/JPY can attract sellers
Information is not investment advice
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.
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.
The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
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