USD/JPY is aiming at 116

USD/JPY is aiming at 116

Recommendation:

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

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XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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