Within first half of the MAY GBPJPY has made significant move without any more visible pullback. As a result last week Average month range was above 100% as well as Average weekly range was reached slightly around 100%.
Eventually, those ranges has matched with HnS pattern on weekly chart. However, right shoulder is lower the left one, therefore at least GBPUSD...
EU as significant lines which has to be broken with inevitable targets at 1.07 and lower. However, before moving to south I do expect that price will print 1.13.
USDJPY has intra-week resistance and all doted lines are price magnets which sooner or later will be reached. If lower parallel line will be confirmed as support, than most likely we will see breakout to north within today-tomorrow with minimum target around 110.40
GBPUSD has made trend line with short signal. Its in a favor of weekly/ monthly main moves which are average range is unfilled.
Follows:
a) New daily low will be printed as trend line will be broken;
b) Weekly/ Monthly range to south will be extended;
We are moving to 1.2775
USDJPY has build technical trend lines with imminent breakouts to short side. However, as per yesterday's outlook ~112.20 might be touched before moving to south.
USDCAD has made 128 pip monthly range and flat surface. Typically USDCAD average monthly range is about 400 pip therefore monthly extension is natural. Considering that we have flat surface above and breakout is imminent, extension most likely will be to the north reaching out minimum targets.
