GBP/USD: pound will continue downtrend
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
USD/JPY: bulls follow a shark
Recommendations:
SELL 110.1 SL 110.65 TP 109.10 TP2 108.20
SELL 110.65 SL 111.2 TP1 109.65 TP2 108.65
On the daily chart, a natural pullback happened after USD/JPY reached 88.6% target of the “Bat” pattern. If bears manage to hold the pair within inside the downward trading channel, chances of a sharp decline’s continuation will increase substantially.
On the hour chart, a break of resistance at 109.50 will increase the risks of activation of the “Shark” pattern with a target of 88.6%. In an obvious bearish trend, rebounds from levels of 110.05-110.15 and 110,65 should be used for selling.
Ivan Karamazov
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