Recommendations: BUY 0…
USD/JPY: bulls were fed to the shark
TP1 112.50 TP20 112.90
On the daily chart, USD/JPY returned to the previous long-term channel. At the same time, the pair reached 113% target of the “Shark” pattern. As a result, the risks of a pullback increased. The necessary condition for the start and the development of a correction are a successful test of resistance at 111.65.
On H1, the risk of transformation of the “Shark” into 5-0 have increased. Correction towards 38.2% and 50% of the wave CD is usually used for opening short positions.
Recommendation: BUY 1…
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising lines; the market entered into the positive area and may continue uptrend.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
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.