USD/CAD is forming a “Three touches” pattern. A pullback from the upper border of the downtrend channel allowed bears to return the initiative.
EUR/JPY: euro wants freedom
BUY 130.3 SL 129.75 TP1 130.95 TP2 132 TP3 132.2
SELL 129.4 SL 129.95 TP1 128.4 TP2 128 TP3 126.7
On the daily chart of EUR/JPY, bulls keep trying to trigger “Shakeout-Fakeout” and “Shark” (targets at 88.6% and 113%). For that, they need to return the pair to the middle of the previous consolidation range of 129.15-132.15.
On H1 of EUR/JPY, a break of resistance at 130.30 will increase the odds of going to 88.6% and 113% targets of a “Shark” pattern. On the other hand, a decline below support at 129.4 will return the pair inside the downtrend channel and open the way down to 128 and 126.7.
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…