EUR/GBP can’t leave the consolidation range of 0.87-0.9020. It was formed in line with the “Spike and ledge” pattern.
USD/JPY: Dollar will test Cloud’s support
Technical levels: support – 112.30/40; resistance – 113.00, 113.30.
- Buy — 112.60; SL — 112.40; TP1 — 113.30; TP2 — 114.00.
Reason: bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, but the horizontal Tenkan-sen and Kijun-sen; the prices are breaking down the Kijun’s support and going to Cloud.
On the daily chart, bears are in control. They are still hoping to push the pair to 200% target of AB=CD.
Bearish Ichimoku Cloud with falling Senkou Span B; a cancelled golden 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…