USD/JPY: bulls will make a stop

USD/JPY: bulls will make a stop


  • BUY 112.85, SL 112.30, TP 114.00
  • BUY 111.85, SL 111.3, TP 114.00. 

On the daily USD/JPY chart, the pair ran into the convergence area of 114-114.55 (23.8% of the long-term bullish wave – 61.8% of the descending medium-term wave). This together with the realization of the interim target of 78.6% of the inverted "Shark" pattern creates the potential for the short-term correction.  

On H1, USD/JPY wasn't able to overcome resistance at 113.93 (78.6% of the last descending wave) that points at the weakness of bulls. The pair may now return to support at 112.85 and 111.85.



GBP/USD is volatile

The pound has made 2 sharp declines in January but then was bought back and quickly rebounded.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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