USD/JPY: yen got lost

USD/JPY: yen got lost


BUY 110.5 SL 109.95 TP1 111.5 TP2 112.5 TP3 114.5

SELL 109.4 SL 109.95 TP1 108.4 TP2 107.2 TP3 106.05

On the daily chart of USD/JPY, the inability of bears to pull the pair below the uptrend channel points at their weakness. If bulls manage to overcome resistance at 110.95, the odds of the pair going to 200% of the AB=CD will increase.


On H1 of USD/JPY, a break of resistance at 110.5 will trigger “Wolfe waves” pattern with targets above 111.5. To develop a correction, bears need to pull the pair below support at 109.4.




XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

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The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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