Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
USD/JPY: sharks are chasing the yen
BUY 112.5 SL 111.95 TP1 113.5 TP2 114.3 TP3 115.3
BUY 114.25 SL 113.7 TP1 115.3
On the daily chart, USD/JPY reached 88.6% target of the «Shark” pattern. As a result, the risks of correction towards 23.6%, 38.2% and 50% of the wave CD in line with the transformation of the “Shark” into 5-0 have increased. The trend remains bullish, so use the pullbacks for buying.
On H1, USD/JPY is forming “Three Indians” pattern. A break of the lower border of the uptrend channel will trigger the “Shark” and the “Widening wedge” patterns and increase the odds of correction towards 112.50.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with expanding channel Tenkan-Kijun.
On the daily chart, bulls are trying to return USD/CAD inside the long-term uptrend channel.
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...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...