It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
USD/JPY: bears make decisive steps
2019-11-11 • Updated
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%.
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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!