EUR/USD: bearish 'Engulfing' pattern
The market is likely going to test the nearest support at 1.1730. If a pullback from this level forms next, bulls will probably try to...
USD/JPY broke key resistance level 111.70
- USD/JPY broke key resistance level 111.70
- Next buy target - 115.00
USD/JPY continues to rise after the earlier breakout of the key resistance level 111.70 (which reversed the earlier correction 4 and which served as the powerful support level in the middle of February, as can be seen below). The breakout of this resistance level should accelerate the active long-term upward impulse wave ③ - which started earlier from the support zone near the support level 108.00.
USD/JPY is expected to rise to the next buy target at the next resistance level 115.00 (top of the previous primary intermediate (B)-wave from March).
Dmitry Chernovolov
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