FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (USDJPY and EURJPY for the day)
FxWirePro: USD/JPY prints three-day downtrend, dollar weakens as Fed minutes show decelerating pace of rate hikes
FxWirePro: AUD/NZD Daily Outlook
Chart - Courtesy Trading View
AUD/NZD spikes 0.75% on the day to trade at 1.1443 at around 17:30 GMT.
The pair has ignored previous session's Doji formation and is extending gains, outlook remains bullish.
GMMA indicator shows major and minor trend are strongly bullish on the daily charts.
MACD and ADX support upside in the pair. Price action is above cloud and Chikou span is biased higher.
Volatility is high and momentum is bullish. Stochs and RSI are sharply higher, RSI is well in overbought zone.
The pair is testing major resistance at 200-month MA at 1.1443, decisive break above required for upside continuation.