Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen.
EUR/JPY: euro's precipitous downfall
On the EUR/JPY daily chart, quotes fell to the lowest level since November 2016. The previously set targets on short positions have been fulfilled. A successful test of 114.56 will increase the odds of fulfilling the target 88.6% in the Bat pattern. It is located near 113.3.
On the EUR/JPY hourly chart, quotes are moving within the downward trading channel. The bears remain their control over the pair. In this situation, the best trading strategies would be selling on growth or opening short positions on the breakouts of supports. The nearest resistances can be found at 115.5, 115.7 and 116.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising lines.
On the daily chart of USD/JPY, a break of the support at 112.85 and an exit out of the upward channel may mean an implementation of reversal 1-2-3 and "Three Indians" patterns.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...