The AUD/JPY daily chart displays consecutive lower highs and lower lows with a potential short setup to continue the visible falling trend (supported also by downward trendline). The current corrective phase seems to be running out of steam in initiation of a potential impulsive phase, with the production of a bearish reversal price bar:
- ricocheting off a...
On the GBPUSD a Falling Wedge was drawn. In this case it could signal a bullish move. Bears are putting a lot of pressure on the cable because the rate hikes were postponed. From the technical perspective, though, a break above 1.6600 could trigger a rally to retest the trend line. A false breakout above the current resistance would be a negative signal. This is a...