USD/JPY is looking for direction

USD/JPY is looking for direction

Recommendation:

BUY 110.95 SL 110.40 TP 112.50 

On the daily chart, bears managed to lead the pair outside of the triangle. This increases the possibility of pattern AB=CD with the target at 161.8% in case of a successful break below support at 108. On the contrary, the pair’s return inside the triangle will show sellers’ weakness.

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On H1, USD/JPY bulls managed to seize the initiative and return the quotes to the upper border of the downtrend channel. Further activation of the inverted “Head and Shoulders” and “Shark” will strengthen the risks of a bearish trend.

JPY1.png

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EUR/USD: euro returned to positive area

Narrowing bearish Ichimoku Cloud, rising Senkou Span A; a cancelled dead cross of Tenkan-sen and Kijun-sen with rising lines; the prices are returned to the positive area and may go higher.

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