Yesterday, the impact on market was put only by one ECB representative statement – he informed, that the central bank does not plan the implementation of asset purchase policy. It had an impact on the euro strengthening. In the other hand, Bank of Japan did not change its monetary policy and after today’s press conference with President Kuroda (it took place at 8:15AM CET) we may see some action on the Japanese yen. Let’s star today’s Price Action setups review:
AUD/NZD:
Cross is in a strong correction and only at the resistance level we will be able to look for PA signals.
GBP/JPY:
Currency pair stopped at 21-day EMA forming double bottom. A clear buy signal can be used to open long positions but it may be not enough to complete the correction – it is worth to wait for more dynamic movement in the support direction.
USD/CAD:
Loonie is attacking support once again. Buy signal from the H4 and H1 charts will be an occasion to trade long. In the event of breakout and closing the daily candle below the support the sentiment will change to downward and it will be worth to look for short positions after resistance test from the bottom.
USD/JPY:
This may be the best signal for today. Price approached the support, 21-day EMA is in close vicinity. Buy signal will be an opportunity to join the marker and follow recent uptrend.
