USD/JPY has recently broken below the long-term rising trend line on the 4-hour time frame, signaling that the uptrend may be over. Before heading any lower though, USD/JPY could still retrace to the broken support zone.
GBP/AUD has been moving sideways on its 4-hour chart, as it found support at 1.6900 and resistance at 1.7400.
CAD/JPY’s downtrend is still very much intact, as the falling trend line connecting the price’s highs is still holding on the 1-hour time frame. The pair just made a couple of tests of the trend line earlier...
AUD/USD could be in for a decline today as the .9450 minor psychological level has been holding well as resistance so far. A drop could last until the recent support around the .9350 minor psychological level.
GBP/USD suffered a sharp selloff on Friday but it appears that the longer-term uptrend is still intact, as evidenced by the rising channel on the 4-hour time frame.
A double top pattern has formed on GBP/USD’s short term time frame, which means that a possible reversal from the current uptrend could happen.
AUD/JPY is making a reversal pattern on its 1-hour time frame, which means that the current downtrend could be turning.
GBP/USD was rejected at the 1.6250 minor psychological resistance yesterday, as pound bulls need to gather more energy before pushing this pair higher.
USD/JPY has been trading inside a rising channel for quite some time but the range broke earlier this week. This suggests that a downtrend might be in the works, possibly after a quick retest of the broken...
USD/CHF just broke below the key .9100 handle on Friday’s dollar weakness, but the pair might be due for a quick pullback before heading any lower.
