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%.





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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