USD/JPY: the Bears have won
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
AUD/USD: fighting continues
Recommendation:
SELL 0.795 SL 0.8005 TP1 0.7875 TP2 0.782
BUY 0.8055 SL 0.8 TP1 0.8155 TP2 0.824
On the daily chart, AUD/USD triggered Gartley pattern with a target at 78.6%. The necessary condition for its formation is the decline of the pair below support at 0.7937. On the other hand, if bulls manage to return the pair inside the bullish trend channel, a rally towards 161.8% of the AB=CD pattern will continue.
On H1, AUD/USD is forming a “Widening wedge” pattern. The decline of the pair below 0.7950 will be a signal for correction. Buying is possible from 78.6% and 88.6% of the wave 4-5.
Ivan Karamazov
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Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
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