EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
USD/JPY: upside is limited
Information is not investment advice
On the H1, USD/JPY is recovering after the selloff that took place during the previous three days. The pair formed a higher low and may test resistance between 109.66 (38.2% Fibo, weekly MAs) and 109.78 (resistance line from January highs, 50% Fibo). However, concerns about the Chinese coronavirus will likely prevent the USD from getting over that resistance in the upcoming sessions, so we’ll consider the pair’s recovery as an opportunity to sell at higher levels.
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.
Stocks futures rose on Monday, indicating a higher start to the first session of August.
The Bank of England is expected to keep its monetary policy unchanged this Thursday.
US cases jump by 67.000, US agrees to pay Sanofi and GSK 2.1 billion dollars for 100 million doses of coronavirus vaccine.