EUR/JPY: bears counterattack

EUR/JPY: bears counterattack


SELL 132.00 SL 132.55 TP1 131.2 TP2 130.95

BUY 132.60 SL 132.05 TP1 133.25 TP2 133.75 TP3 135.70

On the daily chart, EUR/JPY formed an inside bar after two days of growth. A break of its top will increase the odds of the “Shark” pattern with a target at 88.6%. On the other hand, if the pair renews its low, it will allow bears to counterattack.


On H1, there’s a “Spike and reversal with acceleration” pattern. As long as the pair is above the trendline, bulls will remain in control. A break below support at 132 will increase the risks of a “Shark”.



GBP/USD is losing ground

On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615.

USD/CHF: franc is showing signs of live

USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”.

GBP/USD: pound may continue downtrend

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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