USD/JPY: bears make decisive steps

USD/JPY: bears make decisive steps


SELL 112

SL 112.55

TP 111

On the daily chart, the fact that USD/JPY left the short-term uptrend channel points at the seriousness of bears. If they manage to hold the USD below 113.00, the odds of a 5-0 pattern will increase.


On H1, the senior “Shark” pattern is transforming into 5-0. Bears managed to return the pair below important levels of 113.25 and 112.80. They want to trigger the junior pattern with a target of 88.6%.




GBP/USD: pound still supported by Cloud

Expanding bullish Ichimoku Cloud, but falling Senkou Span B(!); a golden cross of Tenkan-sen and Kijun-sen; the market supported by Cloud, but the Bulls can’t continue an existing uptrend.



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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