USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01.
USD/JPY: bulls want revenge
TP 113.00 TP2 114.30 TP3 115.00
On the daily chart, USD/JPY bulls managed to fight back bears and return the pair inside the previous downtrend channel. This increases buyers’ chances for revenge. To begin with, they need to take an important resistance of 111.65.
On H1, USD/JPY can for the Dragon’s head in line with the “Dragon” pattern in the 111.70-112.05 range. Only a confident break of the previous consolidation will allow bulls continue the rally.
The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…