On the daily chart of EUR/JPY, bulls and bears are fighting for the upper boundary of the downward channel.
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.
On the daily chart of EUR/USD, chances that the pair will reach targets of the “Head and Shoulders” pattern and the “Shark” pattern (88.6% target) are declining.
On the daily chart of EUR/GBP, the long-term consolidation within 0.87-0.902 is continuing.
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...