Last week NZD/USD made a significant thrust to the downside.
USD/JPY: the yen needs a trend
SELL 106.9 SL 107.45 TP1 105.9 TP2 104.9 TP3 103.9
SELL 108.3 SL 108.85 TP1 107.3 TP2 106.95 TP3 105.9
On the daily chart of USD/JPY, the correction to the downtrend is continuing. Bulls are trying to pull the pair to targets of “Wolfe waves” and “Shark” patterns and reach the 108.2-108.45 convergence. However, the possibility of the pullback is low.
On H1, a formation of “Three Indians” and “1-2-3” patterns is the first sign of the turn. The break of the support at 106.9 will lead to a slowdown of the correction’s movement and will increase risks of the long-term downtrend’s resumption.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…