Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
USD/JPY: bulls retreat, but don’t give up
TP1 113.70 TP2 115.20
On the daily chart, USD/JPY bears managed to lead the pair outside of the uptrend channel. Together with this, reaching 78.6% of the Gartley pattern will allow bulls to seize the initiative. For a start, buyers need to settle above an important level of 111.65 yen.
On H1, USD/JPY bulls are hoping for a “Shakeout-Fakeout” pattern. For that, they need to return the pair to the middle of the previous consolidation range of 112.05-113.65.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with expanding channel Tenkan-Kijun.
On the daily chart, bulls are trying to return USD/CAD inside the long-term uptrend channel.
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...