USD/JPY: bulls saw a bat

USD/JPY: bulls saw a bat

On the USD/JPY daily chart, Bulls settled in above the important level at 112.07. They are going to attack the diagonal resistance in the form of the upper border of the downward long-term channel. Its successful test will increase the risks for the realization of the Bat pattern. Its target 127.2% is located near 117.4.


On the USD/jPY, the Dragon pattern is relevant. An update of June high (the Dragon’s head) will create prerequisites for the continuation of the rally towards the convergence zone 113.7 – 113.75 (target 161.8% in the AB=CD + level 88.6^ from the last downward wave) and higher.



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Levels to trade EUR/USD

The price action in EUR/USD has been quite unfavorable for the euro. On The W1, the 50-week MA limited the pair’s advance.

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