USD/JPY: the Bears have won
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
NZD/USD: bulls prepare a strike
Recommendation:
BUY 0.7335 SL 0.7280 TP1 0.7435 TP2 0.7530
On the daily chart, NZD/USD keeps retracing in line with the transformation of the “Shark” pattern to 5-0. Return of the pair to resistance at 0.7386 (23.6% of the wave CD) and its following successful test will increase the odds of the uptrend’s resumption.
On H1, bulls are ready to launch a third attack on 0.7334. Their success will trigger the “Shark” pattern and increase the odds of reaching 88.6% target. We don’t exclude the possibility of an inverted “Head and Shoulders” pattern.
Ivan Karamazov
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Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
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On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
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