USD/JPY: bulls prepare for an attack

USD/JPY: bulls prepare for an attack


BUY 112.33

SL 111.78

TP1 113.50, TP2 114.50, TP3 117.40 

On the daily chart, bears are trying to keep the pair inside the long-term downward channel. Never the less, they will fail if bulls push USD/JPY above the diagonal resistance and settle above 112.10 (38.2% of the descending wave).  


On H1, the break above the upper border of the descending channel signaled that correction ended. Successful break above resistance at 112.33 will allow the pair to reach new bullish targets.  




EUR/USD: euro wants to surf

On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.  

USD/JPY: the Bears have won

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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