On the daily chart of USD/JPY, there is the rally to 200% target of the AB=CD pattern.
GBP/USD: bulls look strong
Technical levels: support – 1.2920, 1.2980; resistance – 1.3020/40.
- Buy — 1.2980; SL — 1.2960; TP1 — 1.3040; TP2 — 1.3100.
Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls are breaking out the Cloud’s resistance and may go higher.
On the daily chart of EUR/JPY, the pair keeps going up to 127.2% and 88.6% targets of “Perfect butterfly” and “Shark” patterns.
Expanding bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen.
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…