In the ever-fluctuating world of forex trading, staying ahead of the game is crucial. Today, we'll delve into the current trends of three major currency pairs: AUDCHF, NZDJPY, and CAD. Let's explore the possibilities and anticipate potential trading opportunities.

The NZDJPY Performance

The NZD is moving higher after a daily closure above entry 2 at the price point of 88.173. On the daily time period, traders might spot the rising wedge price pattern. We wait for the price to cross the resistance at price point 88.951 and the top side of the wedge before entering a daily frame. The target price of 91.647 stays the same as recommended.

The AUDCHF Performance

We have pushed higher into the retracement on this pair, achieving both goals en route up. At 61, the price seems to be moving closer to the Target 3 Fib level. Additional follow-up would be necessary after a daily or four-hour candle shutdown.

The CADJPY Performance

The main movement of this pair is upward. We are attempting to capture a potential retracement in the event that the resistance on the shorter timeframes holds and breaks to the negative. The range of 110.807 to 110.616 must be beaten. A candle must shut in order to surpass the resistance level at the price point of 110.486. 

Our inner and exterior tendencies must be reversed with the aid of these extra obstacles, giving us a clearer path to the bottom. Target 1's price level is 110.023. Target 2's price point is 109.430.

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Final Thoughts On Today’s Analysis

Traders looking to capitalise on a potential CAD downturn should conduct thorough research, stay informed about economic developments, and employ risk management techniques. In conclusion, forex trading is a dynamic and ever-changing market. 

The AUDCHF pair appears poised for TP3, NZDJPY is awakening, and the CAD may face downside pressure. However, successful trading requires vigilance, strategy, and an understanding of the factors driving currency movements. Make informed decisions and remember that trading involves risks, so always trade responsibly. Watch our YouTube channel for more analysis.