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.
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.
On the daily chart of AUD/USD, there is a consolidation within the bearish trend.
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.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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