USD/JPY: a corrective move is coming

USD/JPY: a corrective move is coming

USD/JPY has been rallying since November 27th and is doing a consolidation above the 200 SMA at H1 chart. According to our Fibonacci projections, the pair is expected to perform a correction in favor of the bulls, which could target the demand zone established between the 111.94 and 111.61 levels. If it manages to rebound above that area, it’s expected to test the next Fibonacci target of -23.6% at 113.58.

RSI indicator remains in the positive territory.




EUR/USD: "Double Top" pattern

Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

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