USD/JPY: the greenback is weaker

USD/JPY: the greenback is weaker


SELL 110.95 SL 111.5 TP1 109.95 TP2 106.9 TP3 105.6,

SELL 111.45 SL 112 TP1 110.45 TP2 109.95 TP3 107.85

On the daily chart of USD/JPY, bears managed to reverse the uptrend due to the implementation of the "Three Indians" and "Spike and Ledge" patterns' combination. They have reached the 161.8% target of the "Crab" pattern and plan to implement the "Shark" pattern with the 88.6% target.


On H1, the implementation of the "Crab" pattern with the 161.8% target continues. The market is bearish, so the reversals towards the resistances at 110.95 and 111.45 may be used to open short positions. 



How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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