Pullbacks towards 23.6%, 38.2%, and 50% of the wave 4-5 can be used for selling with 161.8% target of AB=CD.
USD/JPY: will the yen catch a “bat”?
SL 107.2 TP1 105.85
TP2 105.5 TP3 104.85
On the daily chart of USD/JPY, there’s the short-term consolidation in the 106.65-107.45 range. A break of its lower border and return of the pair outside the uptrend channel will increase the risks of downtrend’s resumption. On the other hand, successful advance above resistance at 107.45 will allow bulls to develop a correction.
On H1, there’s a “Spike and ledge” pattern. A break of the lower border of the ledge near 106.65 will trigger the “Bat” pattern with a target at 88.6%.
On the daily chart, XAU/USD keeps consolidating in the 1188-1213 range.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but the lines are horizontal.
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...