EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
USD/JPY looks vulnerable
Information is not investment advice
USD/JPY failed to close last week above the 200-week MA at 111.85. This is a bearish sign. The decline below the 50-week MA at 111.25 will open the way down to the support line and 100-day MA at 100.75. The short-term outlook will remain negative as long as the pair’s trading below the weekly pivot at 111.77.
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.
USD/JPY has been rising for almost a week except for Monday, but the strong resistance of the 50-day moving average at 105.80 may stop it from moving higher.
BoA released the report with the bullish forecast for the S&P 500 and shared its technical analysis. Let's discuss it in detail.
EUR/USD has violated the first resistance trendline area 1.1680