On the daily chart, bears are trying to keep USD/JPY inside the long-term downtrend channel.
GBP/USD: pound is counterattacking
Recommendation: BUY 1.3255 SL 1.32 TP1 1.3355 TP2 1.3455 TP3 1.3615
On the daily chart of GBP/USD, bulls are trying to resume the uptrend with the help of the corrective “Three Indians” pattern. To begin with, they need to settle above the upper border of the downtrend channel and push the pair above resistance at 1.3255.
On H1, GBP/USD is forming “Wolfe waves” and “Crab” patterns. A break of resistance at 1.3250-1.3255 will increase the odds of a “Shark” pattern with a target of 88.6%. It allows distinguishing the 1.3430-1.3440 convergence area.
On the daily chart, EUR/JPY reached 88.6% target of the “Bat”.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
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…