USD/JPY: bulls are breaking obstacles

USD/JPY: bulls are breaking obstacles


BUY 112.1 SL 111.55 TP1 113.3 TP2 113.85

BUY 111.85 SL 111.3 TP1 112.85 TP2 113.3

On the daily chart, USD/JPY keeps going north towards 88.6% target of the “Shark” pattern. Bulls showed their strength by managing to conquer resistance at 112.07. Currently it is acting as support.


On the daily chart, USD/JPY reached the targets of the “Widening wedge”. The pair is trading within the uptrend channel. This means that bulls are in control of the pair. Pullbacks towards 112.10 and 111.85 can be used for forming long positions. 




USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

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