NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
USD/JPY: bears left their lair
TP1 109 TP2 108.4 TP3 108
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback. The “Shark” s transforming into 5-0. In line with this process, it’s correcting to 23.8%, 38.2% and 50% of the wave CD.
On H1, USD/JPY formed “Three Indians”, “Spike and reversal with acceleration”, as well as the senior and junior AB=CD. Their combination allowed bears to attack and lead the pair out of the uptrend channel. Sellers want to bring the pair to 261.8% of AB=CD.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...