The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/JPY: yen entered a dead area
SELL 110.55 SL 111.1 TP1 109.55 TP2 109.1 TP3 108.65
BUY 111.5 SL 110.95 TP1 112.2 TP2 112.85 TP3 114.95
On the daily chart, USD/JPY entered a dead area. Bulls are trying to return the pair inside the previous trade channel and continue the advance towards the 200% target of AB=CD. Bears are trying to hold it within the long-term downtrend channel.
On H1, USD/JPY keeps forming a “Spike and reversal with acceleration”. A break of the trendline of the initial stage will let bears continue the decline.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
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.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…