Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen.
USD/JPY: the yen is accelerating its pace
On the USD/JPY daily chart, quotes returned to the borders of the downward trading channel. The bears regained control over the pair. We expect the continuation of the downward movements towards i108.8 (50% of the last long-term upward wave) and 107.7 (target 200% in the AB = CD pattern). The nearest important resistance levels can be found near 111.15 and 111.55-111.75.
On the USD/CAD hourly chart, the quotes are sliding towards 161.8% and 224% targets in the AB = CD patterns (109.5-109.7). If they go out from the downward trading channel, it will lead to the correction to 111.45-111.55.
Recommendation: SELL 111,55 SL 112,10 TP 109,7.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of USD/CAD, bulls almost returned the pair to the 1.3275-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns).
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...