Volatility has greatly diminished in USD/JPY. The pair is consolidating in a narrow range on H4, and a breakout is coming.
USD/JPY: dollar testing SSB’s support
Technical levels: support – 113.20; resistance – 113.80.
- Buy — 114.00; SL — 113.80; TP1 — 114.40; TP2 — 114.80.
- Sell — 113.30; SL — 113.50; TP1 — 112.40; TP2 — 112.20.
Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are tested the support of Senkou Span B and staying inside a Cloud.
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...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...