USD/JPY: bulls regain their strength

USD/JPY: bulls regain their strength

Recommendation:  BUY 111,95 SL 111,4 TP1 113,5 TP2 114,6.

On the USD/JPY daily chart, the Bears failed to consolidate below 110.5. This tells us about their weakness. Bulls launched a counterattack and became ready to activate the Crab pattern and to implement the 5-0 pattern. But first, they need to test the resistance at 112.05.

On the USD/JPY hourly chart, the formation of the expanding wedge pattern continues. To activate this pattern, the Bulls need to update the high at point 3. The resistance is located at 111.95. If it is tested successfully it will be a signal for opening long positions.  


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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