USD/JPY: bears halted

USD/JPY: bears halted


BUY 107.85 SL 107.3 TP1 108.9 TP2 109.4 TP2 109.9

SELL 105.95 SL 106.5 TP1 104.95 TP2 103.95 TP3 102.8

On the daily chart USD/JPY, there is a short-term consolidation within the downtrend. A break of its lower bound near 106.6 will give hope to bears for the implementation of 127.2% and 161.8% targets of the AB=CD pattern.


On H1 of USD/JPY, bulls are trying to return quotations to the triangle and take the pair beyond the downtrend channel. If bulls succeed, the “Bat” pattern with the 88.6% target may be implemented.




USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

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