USD/JPY: local correction coming soon

USD/JPY: local correction coming soon


The price reached the nearest "Window", so there's an opportunity to have a bullish pattern. If so, the market is likely going to test the closest resistance, which could be a departure point for another decline. In this case, we should keep an eye on the next "Window" as an intraday bearish target.


We've got two bearish "Three Methods" in a row, so the pair is likely going to continue moving down. However, there's also an option to have a local upward correction during the day. Anyway, we could have the market even lower soon.



GBP/USD: "Thorn" pattern

The market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on...



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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