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.




Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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