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 don’t want to lose their control over the pair
Recommendations: BUY 113,95 SL 113,4 TP1 115,5 TP2 116,4 TP3 117,55.
On the USD/JPY daily chart, Bulls managed to return the quotes to the important level of 113.3 (50% from the near-term downward wave). If buyers manage to push the quotes higher, there will be a restoration of the uptrend and realization of the Butterfly pattern.
On the USD/JPY hourly chart, Bulls managed to keep the quotes at 112.9 and now they are trying to restore the uptrend. To do this, they need to test the resistance at 113.95 and activate AB=CD pattern. Its target 161.8% is located near 115.5.
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...