Updates on USD/JPY, AUD/USD, USD/CAD

The day ends at cyprusthrive with more FX news. If you were looking for trading tweaks in the shorter and longer term, here’s what FX Street experts caution about.

USD/JPY

The currency pair seems to be following a downward trend, with an increased negative momentum pushing the 4hr MACD into the red zone.

Technically speaking, this status quo would not help much if the MACD has not dropped below zero for at least one week of trading, analysts suggest. This points to the fact that odds are pretty high that the USD/JPY will further depreciate.

Traders following the trend may either liquidate long positions, while potential sellers prepare for short commitments.

 

AUD/USD

The AUD/USD pair has reached its highest momentum reading over the last 20 days of trading on an hourly basis.

However, recent Aussie – greenback longs are speculative and potentially vulnerable. Unless positive releases follow to support these positions, a wave of sell actions is quite likely to emerge as profit taking and/or forced liquidation.

The hourly MACD shows less acceleration, making the possibility of a base building or correction in the near future realistic.

USD/CAD

From an hourly perspective, the USD/CAD MACD series stagnates at extreme lows.

Recent tumbling USD/CAD price action has been marked by an above-average distance between MACD and its signal line. From a strategic perspective, there could be as much adrenaline rush to experience as well as brief relief looms ahead. According to the latest MACD print, there’s a dissipation of negative momentum, which reinforces the second scenario.

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