Irregular bullish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with narrowing channel of Tenkan-Kijun.
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.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of GBP/USD, bulls could return the pair to the upper border of the downward channel.
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...