The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
USD/JPY is looking for direction
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.
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.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...