USD/JPY: bulls want more

USD/JPY: bulls want more

Recommendations:

BUY 110 SL 109.45 TP1 110.85 TP2 111.15 TP3 111.65

SELL 108.75 SL 109.3 TP1 107.95 TP2 107.3 TP3 106.55

On the daily chart, after USD/JPY reached 88.6% target of the “Shark”, it is transforming into 5-0. A pullback to 23.6% of the wave CD allowed opening bullish positions. If the pair rises to May highs, it will be able to continue rising to 113% of the “Shark”.

JPY1.png 

On H1, there are no doubts in a sustainable uptrend. Never the less, a break of support at 108.75 will trigger a “Bat” pattern with a target at 88.6%.

JPY2.png

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EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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