USD/JPY is aiming at 116

USD/JPY is aiming at 116


BUY 113.4

SL 112.85

TP1 114.4 TP2 115.3 TP3 116.3

On the daily chart, USD/JPY keeps forming 161.8% target of AB=CD. As long as the pair is above 113.35 (61.8% of the descending wave), bulls are in control. As a result, pullbacks may be used for long positions.

USDJPY daily.png 

On H1, USD/JPY keeps forming “Wolfe waves” pattern. Corrections to 23.6% and 38.2% with the following pullback form the support levels should be used for buying.

USDJPY h1.png


How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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