Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a weak goldean cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are on the weak Kijun’s support.
AUD/USD made a stop
SELL 0.7920, SL 0.7985, TP 0.7820
BUY 0.7760, SL 0.7705, TP1 0.7880, TP2 0.8030, TP3 0.8200
On the daily chart, there’s a “Spike and reversal with acceleration” pattern. The break of a trendline in the ‘spike” phase increases the risks of correction towards 0.7800. In that area, there’s a 88.6% target of a “Shark” pattern and the lower border of the bullish channel.
On H1, there’s a “Shakeout-Fakeout” pattern. Return of the pair to the middle of the 0.7880-0.7965 channel will strengthen the risks of a pullback towards 113% and 161.8% targets of “Shark” and “Crab” patterns.
Bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; a market is overbought and under the strong resistance of 0.8030.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel Tenkan-Kijun; the market is in correction phase.
USD/JPY has posted slight gains in the first half of past week as political tumult over Trump's obstruction of justice subsided…
Recommendations: BUY 0…
There's a "Shooting Star", which has been confirmed. So, the 34 Moving Average is likely going to act as support...