Yen Finishes The Correction and Is Ready for Further Weakening

Indices extend gains and the party on the stock market goes on.

EURUSD is bouncing off the 38,2% Fibonacci and is coming to the downtrend.

GBPUSD, on the other hand, is in positive territory, still trading above the major mid-term down trendline.

Seems that USDJPY is ending the bearish correction, as the price is breaking the upper line of the wedge and is aiming higher.

The same applies to CADJPY, GBPJPY and the majority of pairs with JPY in them.

USDCAD advances higher after a triple bottom formation but the rise is shy and most probably, will end soon.

NZDUSD is holding above the major horizontal support, keeping the buy signal alive.

Silver with a chance for a major inverse head and shoulders pattern. But we are in the early stages, still waiting for the right shoulder.

Gold is still in no mans land, waiting for a breakout.

For a look at all of today’s economic events, check out our economic calendar.