Gap Downs, Pullbacks & Resistance Zones — This Week’s FX Edge

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Yen Shock, AUD/NZD’s Pause & NZD/CAD’s Test

The week opened with a jolt in FX markets as the Japanese yen gapped sharply lower after Prime Minister Shigeru Ishiba’s resignation, deepening political uncertainty in the world’s fourth-largest economy. While the yen clawed back some losses during the Asian session, it remained broadly weaker, especially against NZD and AUD.

On the technical side, AUD/NZD’s uptrend is taking a breather after hitting resistance at 1.1160, with potential pullback zones lining up neatly with key Fibonacci levels. Meanwhile, NZD/CAD is approaching a major trend resistance area near 0.8190, where sellers could reassert control — or bulls could force a breakout if momentum holds3. This issue is about navigating political shocks while staying alert to clean technical inflection points.

⚡Yen Gapped Lower After PM Ishiba’s Resignation

• PM Ishiba resigned after less than a year in office, following two major electoral defeats that cost the ruling coalition its parliamentary majorities.

• Political instability and leadership uncertainty weighed on JPY, which saw its largest losses against NZD (-0.66%) and AUD (-0.53%).

• The yen recovered slightly later in the session but stayed broadly weaker.

🔥AUD/NZD Uptrend Correction Ongoing?

• AUD/NZD is stalling at 1.1160 (R1), with possible pullbacks to 1.1080 (38.2% Fib) or 1.1050 (50% Fib/100 SMA).

• The 100 SMA remains above the 200 SMA, keeping the broader bias bullish unless the trendline breaks.

📊 NZD/CAD Approaches Key Trend Resistance

• NZD/CAD has bounced from 0.8050 to 0.8150 after weak Canadian jobs data.

• Price is nearing 0.8190 (R1/top of descending channel), where sellers may step in; a break above 0.8200 could target 0.8300.

  Review the NZD/CAD Setup

This issue blends political catalysts with technical clarity. From the yen’s gap down on leadership turmoil to AUD/NZD’s measured pullback and NZD/CAD’s resistance test, the setups are clear and the drivers are active. The key is balancing macro awareness with disciplined execution at the chart’s most telling levels.

Happy Trading!

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