On the daily chart, bears are trying to keep USD/JPY inside the long-term downtrend channel.
EUR/GBP: bulls want to get out
BUY 0.8960 SL 0.8905 TP1 0.906 TP2 0.916 TP3 0.9735
BUY 0.9020 SL 0.8965 TP1 0.912 TP2 0.922 TP3 0.9735
On the daily chart, EUR/GBP tested the upper border of the 0.8700-0.9020 range. It was formed in line with the “Spike and ledge”. The failure didn’t discourage bulls. They are ready to repeat their attack in order to trigger the AB=CD pattern with a target at 161.8%.
On H1, EUR/GBP formed “Wolfe waves” pattern. A break of resistance at 0.8925 allowed to but the euro. A pullback to support at 0.8960 or an advance above resistance at 0.9020 will allow buyers to increase long positions.
On the daily chart, EUR/JPY reached 88.6% target of the “Bat”.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…