USD/JPY: "Tower" led to decline

USD/JPY: "Tower" led to decline

0410usdjpyH4-1.png

The price is still consolidating. Also, there's a "Hanging Man", which has been formed at the last local high. So, the 34 Moving Average is likely going to act as support. If so, we could have another bullish rally afterwards.

0410usdjpyH1-1.png

The last "Tower" pattern led to the current decline. Meanwhile, if any bullish pattern forms on the lower "Window", there'll be an opportunity to have an upward price movement towards the nearest resistance area.

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GBP/USD: pound entered into channel Tenkan-Kijun

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.

gbp

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