USD/JPY is looking for direction

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.




AUD/USD may fall

If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.

Latest news

GBP/USD: confirmed "Thorn" pattern

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...


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