The US Dollar (USDJPY) has declined slightly in its recent intraday trading, in a natural movement aimed to take profits after its strong gains seen in yesterday’s session. Additionally, it is attempting to offload some of its clear overbought condition on the Relative Strength Index (RSI), especially with the beginning of a negative overlapping, which could help restore balance and gather the necessary positive momentum to continue the rise.

Noting that the formation of a relatively rare positive chart pattern (the Diamond formation) which supports the possibility for the continuation of the upward corrective movement.

The (USDCAD) has declined in its recent intraday trading after failing to break the key resistance level at 1.4275, which coincided with testing the resistance of the EMA50. This increased the selling pressure on the price. The decline came as negative signals emerged from the Relative Strength Index (RSI) after it reached excessively overbought levels earlier, supporting the idea of a temporary pullback to gain new momentum.

Despite the current decline, the pair is still moving within an upward corrective wave, enhancing the chances of resuming the upward movement if a key technical condition is achieved, which is breaking the 1.4275 resistance level.

The (AUDUSD) has risen slightly in its recent intraday trading, after witnessing a day of heavy fluctuations yesterday, amidst a dominant and strong bearish wave on the short-term. The negative pressure continues due to its trading below the EMA50. Accompanied by the negative signals that have returned on the Relative Strength Index (RSI) after the price successfully offloaded its oversold condition in previous trading.

The (NZDUSD) has risen in its recent intraday trading, attempting to recover some of the losses it previously incurred, amidst the dominance of the short-term bearish trend. Negative pressure continues due to its trading below the EMA50. Additionally, we notice the emergence of positive signals once again after the price successfully offloaded its oversold condition.