USD/JPY: bears prepared an ambush

USD/JPY: bears prepared an ambush


SELL 109.95 SL 110.5 TP1 108.95 TP2 107.9 TP3 106.95

SELL 108.55 SL 109.1 TP1 107.55 TP2 106.95 TP3 105.95

On the daily chart, USD/JPY keeps correcting to the downtrend with the help of the “Wolfe waves” pattern. The pair is close to convergence area of 109.65-109.95, from where it may reverse. In this place, there’s also a target at 88.6% of the “Shark” pattern.


On H1 of USD/JPY, there’s a “Spike and reversal with acceleration pattern”. As long as the pair’s above the trendline of the initial stage, bulls are in control of the situation. A break of support at 108.55 will trigger a “Shark” pattern.




NZD/USD: bears are hunting a crab

On the daily chart, NZD/USD reached 88.6% target of the “Bat”. This increases the possibility of a pullback to 23.6%, 38.2% and 50% of the wave CD.

GBP/USD: pound going lower

Bearish Ichimoku Cloud with falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the market breaking down the main daily supports and will continue the downtrend.



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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