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.




AUD/USD may fall

If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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