USD/JPY: bulls grab the biggest piece of the pie

USD/JPY: bulls grab the biggest piece of the pie


BUY 109.9

SL 109.35

TP 111.65


BUY 109.4

SL 109.95

TP1 110.9 TP2 111.65


On the daily chart, bulls showed their strength as they managed to lead the pair outside of the long-term descending trend channel. Before that, the pair returned inside the medium-term uptrend channel. If buyers manage to keep the USD above 110.52, the odds of continuation towards 88.6% target of the Shark pattern will significantly increase.


On H1, USD/JPY formed a “Widening wedge” pattern. Pullbacks towards 23.6%, 38.2%, and 50% are usually used for opening longs.




USD/JPY: new lows of the Dollar

Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.

AUD/USD: aussie in consolidation

Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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