On the daily chart, GBP/USD pulled back after 88.6% target of the “Bat”. Bulls managed to defend 1.3050-1.3065 and play the Inside bar.
USD/JPY: bulls counterattacked
BUY 109.7 SL 109.15 TP 111.3 TP2 112.15
BUY 110.9 SL 110.35 TP1 112.15 TP2 114
On the daily chart, bulls managed to move the pair outside of the short-term downtrend and start assailing resistance at 110.52. If they succeed, triggering of the inverted “Shark: pattern with target at 88.6% will become more likely.
On H1, USD/JPY reached the target of the “Widening wedge”. Pullbacks towards 23.6% and 38.2% of the wave CD of the “Shark” pattern, as well as the break of resistance at 110.9 should be used for opening long positions.
USD/CHF reached 0.9630 (50% of the medium-term rising wave), although the diagonal resistance in form of the upper border of the downtrend channel is a more serious obstacle.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a dead 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...