The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
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.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…