Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
USD/JPY: bulls benefited from the gap formation
2019-11-11 • Updated
On the USD/JPY daily chart, the bulls with the help of a gap reached the resistance at 110.2. It corresponds to the lower boundary of the 110.2-111.55 consolidation range. As a result, the Wolf Waves pattern was formed. A breakout of 110.2 and 111.15 levels can lead to the implementation of 112.5 and 112.9 targets.
On the USD/JPY hourly chart, there is a formation of the Dragon reversal pattern. Update of the high of today's trading day (110.55) or closing of the gap with a subsequent rebound from the upper boundary of the previous downward trading channel will create the prerequisites for opening long positions.
Recommendations: BUY 110,55 SL 110 TP 112,5, BUY 109,5 SL 108,95 TP1 111,45 TP2 112,5.
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