USD/JPY: bearish "Tower"

USD/JPY: bearish "Tower"


We've got a local bearish correction inside the main bullish trend. Considering the last "Engulfing" pattern, the market is likely going to test the 21 Moving Average, which could be a departure point for another upward price movement towards the next "Window".


There's a "Tower' pattern, which led to the current decline. The price has reached the 34 Moving Average, so we could have a local bullish correction. Nevertheless, bears are likely going to continue pushing the price even lower.



GBP/USD: bullish "Flag"

The pair is going to continue moving up in the direction of another resistance at 1.4144 - 1.4277...



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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