Bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with horizontal lines.
USD/JPY: bears are attacking
TP1 110.15 TP2 109.90 TP3 109
On the daily chart, bears managed to seize the initiative and return USD/JPY to the long-term downtrend channel. As a result, the odds of it getting to 161.8% target of AB=CD increased. It’s located near 109.
On H1, USD/JPY is forming a “Bat” with the 88.6% target. A break of support at 110.60 or a retest of the lower border of the uptrend channel near resistance at 111.15 will allow bears to continue the attack.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with horizontal line.
On the daily chart of XAU/USD, the pair left the downward channel and reached targets of the “Spike and ledge” pattern.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...