USD/JPY: wedge stopped the bulls

USD/JPY: wedge stopped the bulls


SELL 110,9 SL 111,45 TP 109,6,

BUY 111,6 SL 111,05 TP 112,8.

On the USD/JPY daily chart, the bulls faced the resistance at 111.55. If it is tested successfully, there will be the continuation of the rally and the implementation of the targets in the"Wolf Waves" pattern. The nearest important support can be found near 110.5.

On the USD/JPY hourly chart, the expanding wedge pattern was formed, then, the pair moved into the consolidation phase. To restore the uptrend, a test of the strong resistance at 111.6 is needed. In contrast, a drop of quotes below the support at 110.9 will lead to the development of the correction. 



XAU/USD: gold was captured by bulls

Recommendation: BUY $1327 SL $1312 TP $1357 TP2 $1395 On the daily chart, XAU/USD is under control of bulls, at least until the pair’s trading above $1306 an ounce…


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…

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