USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.
EUR/JPY: yen is hunting a “Bat”
TP1 127.7 TP2 127.2 TP3 126.2
On the daily chart of EUR/JPY, bears pulled the pair below an important support at 128.85 (38.2% of the long-term rising wave) and are trying to return it to the descending channel. If they succeed, the pair will likely go to 88.6% of the “Bat”.
On H1, EUR/JPY keeps forming a “Bat” with the 88.6% target. If it falls below support at 128.5, bears will count on triggering the AB=CD pattern.
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...