Recommendation: BUY 131…
USD/JPY: bulls prepare for an attack
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.
On the daily chart, bulls failed to push USD/JPY above an important resistance at 112.45 from the first attempt.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a newgolden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
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...