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The USD/CAD pair fell during the week, but turned around to form a hammer. As you can see, it looks very bullish, but the 1.36 level above is massively resistive. I think if we can break above there, this pair will take off to the upside. If the oil markets roll over, and they look like they’re getting ready to for the short-term, we should see positive pressure.
https://charts.mql5.com/14/737/usdca...apital-ltd.png
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The USD/JPY pair had a very rocky session for the day on Tuesday as we finally broke the law you 110 handle. By doing so, it shows that there is building downward pressure on this market, and it’s likely that we will continue to struggle to rally. I believe that short-term rallies will be selling opportunities on signs of exhaustion, and it’s likely that we will go to the 61.8% Fibonacci retracement level underneath, reaching towards the 108-level underneath.
https://charts.mql5.com/14/737/usdjp...apital-ltd.png
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I believe that this market is very difficult to start buying, and as a result I think it’s only a matter of time before the sellers assert there will in a market that clearly is showing a bit of risk aversion at the moment.
https://charts.mql5.com/14/737/usdjp...apital-ltd.png
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Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 111.48 or 111.71.
https://charts.mql5.com/14/840/usdjp...apital-ltd.png
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Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7506 or 0.7547.
https://charts.mql5.com/14/840/audus...apital-ltd.png
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The USD/JPY pair had a negative session on Tuesday, testing the 113 level. We have recently seen a move higher that started all the way down at the 110 handle, so I think that a pullback from here makes quite a bit of sense.
https://charts.mql5.com/15/58/usdjpy...ital-ltd-2.png
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A supportive candle has me buying, I don’t have any interest in selling currently, mainly because of the interest rate expectations coming out of the United States and Japan. On signs of support, I think of it as value and am willing to start going long again.
https://charts.mql5.com/15/58/usdjpy...apital-ltd.png
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Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 114.08.https://charts.mql5.com/15/58/usdjpy...apital-ltd.png