The pair will be affected on the intraday basis by British Inflation Report hearings and US durable goods orders.
USD/JPY: bulls want more
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”.
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%.
EUR/USD met resistance in the 1.1415 area. The pair’s advance in the recent days was quite rapid, so it might be hard for the euro to retain the bullish momentum.
After its extensive decline last week, the USD can make a small comeback.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.