USD/JPY: "Tweezers" and "Engulfing" patterns

USD/JPY: "Tweezers" and "Engulfing" patterns

0910usdjpyH4-1.png

We've got a "Tweezers" and an "Engulfing" patterns, which both have been formed at the local high. So, the 34 Moving Average is likely going to act as support soon. If a pullback from this line happens, we could have another bullish rally.

0910usdjpyH1-1.png

The price is still consolidating, cause the 144 Moving Average is acting as support. In this case, the pair is likely going to test the upper "Window", which could be a departure point for another decline.

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GBP/USD: "V-Top" pattern

We're likely going to have a downward correction. It's likely that bears are going to test the closest support at 1.4066 during the day...

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Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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