On the daily chart of EUR/GBP, after a plenty of attempts, bulls have managed to pull the pair out of the upper boundary of the 0.87-0.89 consolidation.
USD/JPY: a further downfall is not ruled out
On the USD/JPY daily chart, the bulls failed to push quotes outside the downward trading channel. The 5-0 pattern has been fulfilled. Rollback from the 38.2% level of the CD wave allowed us to open short positions. The update of March lows will increase the risks of continuation of the downward movement towards108.8 and lower.
On the USD/JPY hourly chart, the attack on the important resistance at 111.45 has failed. A successful test of the support at 110.25 will activate the AB = CD pattern with target 109.6.
SELL 110,25 SL 110,8 TP1 109,6 TP2 108,8,
BUY 111,45 SL 110,90 TP 112,85.
On the daily chart of EUR/USD, the downward triangle is forming.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled golden cross of Tenkan-sen and Kijun-sen, the lines are horizontal.
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…