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18.02.2020

USD/JPY: wave analysis

The pair may grow.

On the daily chart, the first wave of the higher level (1) of С is being formed, as part of which the wave iii of 1 is developing. At the moment, the third wave of the lower level (iii) of iii started to form, within which the local correction ii of (iii) is being completed. If the assumption is right, the growth of the pair will continue to the levels of 111.50–112.35. The level of 109.15 is critical and stop loss for this scenario.

GBP/JPY: Ichimoku clouds

On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (142.70). The closest resistance level is Tenkan-sen line (146.00).

CAD/CHF: Ichimoku clouds

On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (0.7370). The closest resistance level is Tenkan-sen line (0.7430).

AUD/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (73.197). The closest resistance level is Tenkan-sen line (73.629).

RBA Meeting Minutes. Australia, 02:30 (GMT+2)

At 02:30 (GMT+2), the minutes of the last meeting of the Reserve Bank of Australia on monetary policy will be published, which may contain hints of further actions of the regulator. At the January meeting, the RBA left the rate unchanged at 0.75%, and the head of the bank, Philip Lowe, said that the regulator is still ready to further soften the monetary policy, if necessary, to support sustainable economic growth. Lowe also noted that forest fires and the Chinese epidemic could put near-term pressure on domestic growth.