On the daily chart, bears are trying to keep USD/JPY inside the long-term downtrend channel.
USD/JPY: no one wants to give in
TP1 110 TP2 109.20 TP3 108.50
On the daily chart, USD/JPY is fighting for an important level of 111.65 (50% of the long-term descending wave). If bulls manage to keep the pair above it, the risks of getting to 200% target of AB=CD will increase. On the other hand, if bears win, the way down towards 88.6% target of the “Bat” will be open.
On H1 of USD/JPY, a “Shark” is transforming into 5-0. Pullbacks towards 50% of the wave CD are usually used for selling. You can also sell on the break below 110.80.
On the daily chart, EUR/JPY reached 88.6% target of the “Bat”.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…