Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
USD/JPY: the USD will weaken
2019-11-11 • Updated
TP1 111.6 TP2 109.9 TP3 107.85
On the daily chart of USD/JPY, bulls managed to stick above the important level of 113.27. Bulls are strong to continue the rally and resume the uptrend. Bears hope for the return to the support at 112.6. A break of it will increase risks of the combination of 1-2-3 and «Three Indians» patterns.
On H1, if the pair returns to the support at 112.6, the "Shark" pattern with the 88.6% target will be implemented. However, until the pair is above 113.4, bulls are stronger.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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