On the daily chart, bears are trying to keep USD/JPY inside the long-term downtrend channel.
USD/CHF: franc is at the crossroads
BUY 0.9985 SL 0.9930 TP1 1.0085 TP2 1.0195 TP3 1.0400
SELL 0.9920 SL 0.9975 TP1 0.9850 TP2 0.972 TP3 0.9620
On the daily chart of USD/CHF, an advance to May high will trigger AB=CD pattern with a target at 224% and increase the odds of the pair getting to the target of “Wolfe waves” pattern. On the other hand, a return of the pair to the downtrend channel will trigger the “Bat” pattern.
On H1, USD/CHF keeps forming a “Widening wedge”. A break of resistance at 0.9985 will open the way up. On the other hand, a break of support at 0.9920 will allow bears to seize the initiative.
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…