USD/JPY is preparing for an attack

USD/JPY is preparing for an attack

Recommendation:

BUY 111.75

SL 111.2

TP1 112.4 TP2 113.3 TP3 113.7

On the daily chart, USD/JPY bulls managed to lead the pair outside the long-term downtrend channel. They are attacking resistance at 111.6 (50% of the long-term bearish wave). If they succeed, the odds of triggering of a “Shark” with 88.6% and 113% targets will increase.

USDJPY daily.png 

On the daily chart, USD/JPY tested and retested resistance at 111.05 successfully (now it’s a support). As a result, the way up opened for the pair towards 112.4 (113%) and 113.3 targets of “Shark” and “Wolfe waves”.

USDJPY h1.png

Similar

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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