On the daily chart, EUR/USD managed to rise above resistance at 1.1750 and lead the pair out of the medium-term consolidation range (1.15-1.1750).
USD/JPY: bulls are getting more active
TP1 113.05, TP2 114.05
On the daily chart, USD/JPY recoiled from support at 110.55. This allowed bulls to counter attack. The pair left the long-term descending channel and is testing resistance at 112.05-112.10. If the test is successful, USD/JPY will continue rising. Otherwise, the pair will reverse downwards.
On H1, USD/JPY reached targets of an inverted “Head and Shoulders” pattern. As a result, the pair approached resistance at 112.10 (38.2% of the last bearish wave). The break will increase the odds of the inverted “Shark” pattern with a target at 113%.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrow channel Tenkan-Kijun.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun.
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...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...