On the daily chart of USD/JPY, there is the rally to 200% target of the AB=CD pattern.
USD/JPY: Dollar fell into negative zone
Technical levels: support – 111.70/80; resistance – 112.60, 113.00.
- Buy — 111.90; SL — 111.70; TP1 — 113.00; TP2 — 113.30.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen and the lines are horizontal; the market is on the strong support of the daily levels.
On the daily chart of EUR/JPY, the pair keeps going up to 127.2% and 88.6% targets of “Perfect butterfly” and “Shark” patterns.
Expanding bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen.
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.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…