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: yen is trying to win
TP1 127.9 TP2 127.45 TP3 125.7
On the daily chart of EUR/JPY, bears managed to form “Shakeout-Fakeout” pattern and lead the pair out of the medium-term consolidation range of 129.15-132.15. As a result, the pair triggered AB=CD pattern. Its 127.2%, 161.8% and 200% targets correspond to 127.45, 125.7 and 123.85. Resistance is near 128.9-129.15.
On H1 of EUR/JPY, there’s a downtrend. Bears are dominating at the market, so pullbacks may be used for selling.
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…