USD/JPY: the yen recovers

USD/JPY: the yen recovers

Recommendation: SELL 112.8 SL 113.35 TP1 112 TP2 110.8 TP3 109.7

On a daily chart of USD/JPY, bulls could not move the pair outside the triangle. It signals their weakness. Bears are planning to implement the combination of the reversal patterns “Three Indians” and 1-2-3. The successful break of the lower border of the upward channel is needed to make it possible.

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On H1, bears are testing the support at 112.8. The successful break of the support will activate the Gartley pattern. If the pair manages to reach the target at 78.6%, the risks of the implementation of the “Crab” pattern will increase.

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GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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