Today, we do have three occasions on the exotic instruments. First one will be the GBP/AUD, which created a channel up/wedge formation (red lines). This kind of a pattern, on the local highs, is rather a negative sign, so yesterday, we were expecting a bearish breakout. That is exactly what happened and now the price is going lower. The aim is the 1.7980 and the chances that we will get there are very high.
Next one is the GBP/JPY, which is creating a bearish wedge. We are expecting the breakout of the lower line of this formation, which should trigger us a sell signal. Why? We already broke the long-term up trend line and the price bounced from the mid-term resistance, so the overall sentiment is bearish.
NZD/JPY is creating a nice inverse head and shoulder pattern on the important long-term horizontal support. That is definitely a positive sign but for the buy signal we need to wait for the breakout of the neckline and the mid-term down trend line. Only then, entering with a long position will be justified.