USD/JPY broke daily down channel

USD/JPY broke daily down channel

  • USD/JPY broke daily down channel
  • Next buy target - 115.40

USD/JPY has been rising sharply in the last few trading sessions inside the intermediate impulse wave (3) - which belongs to the long-term upward impulse wave ③ from April. The price earlier broke the resistance trendline of the daily down channel from December – which accelerated the active impulse waves (3) and ③.

USD/JPY is expected to rise to the next buy target at the next resistance level 115.40 (former top of the earlier (B)-wave of the primary ABC correction ② from December, which was enclosed by the aforementioned down channel).




GBP/USD: "Thorn" pattern

The market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on...



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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