USD/JPY: "High Wave" pattern

USD/JPY: "High Wave" pattern

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The last "High Wave" pattern led to the current upward price movement. Meanwhile, if a pullback from the nearest resistance happens, we could have a downward correction towards the Moving Averages.

0712usdjpyH1 (3).png

There's still no any reversal pattern, so bulls are likely going to test the upper "Window" in the coming hours. If a pullback from this level happens afterwards, there'll be an opportunity to have a bearish correction.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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