USDNOK Searching For Resistance, While CADJPY Breaking Higher

USDNOK is higher as money shifts into dollar this week which is stronger and stronger, but still too early to confirm any significant change in trend. On USDNOK we see a three wave recovery from the low, so upside can be limited as pair trades close to former wave 4 swing resistance at 8.0094, that comes in near C=A level.

USDNOK, 4H

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CADJPY is still in a nice swing to the upside, ideally, fifth wave since pair also took out the upper channel line which is seen as a confirmation for a fifth wave up that can climb above 92.00.

CADJPY, 1H

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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.

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