USD/JPY: the USD is weak again

USD/JPY: the USD is weak again

Recommendation:

SELL 112.85

SL 113.4

TP1 111.85 TP2 111.6 TP3 109.9

On the daily chart of USD/JPY, a break of the support at 112.85 and an exit from the upward channel may mean an implementation of reversal 1-2-3 and "Three Indians" patterns. At the same time, risks of an implementation of "Shark" and "Crab" patterns with 88.6% and 161.8% targets will increase.

usdjpy_d.png

On H1, if the pair reaches the 88.6% target of the "Shark" pattern, risks of the pullback and an implementation of "Three Indians" and "Broadening wedge" patters will increase. A test of the support at 112.85 will be important. 

usdjpy_60.png

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