The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/JPY: bears prepared a trap
Recommendation: SELL 111.75 SL 112.3 TP1 110.75 TP2 109.8 TP3 108.8
On the daily chart of USD/JPY, bears are still hoping on the formation of the “Bat” in case of a break below the lower border of the uptrend channel. Bulls aim for resistance at 110.95, getting out of the long-term descending channel and getting to 200% target of AB=CD.
On H1, USD/JPY can reach targets of the “Three moves” pattern. Then the pair may form a “Widening wedge”. Resistance at 111.75 corresponds to the upper border of the daily channel.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…