Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
USD/JPY: yen is in the limbo
SELL 108.30 SL 108.85 TP 107.3 TP2 106.3 TP3 105.3
BUY 110.25 SL 109.7 TP 111.25 TP2 111.6 TP3 111.8
On the daily chart, USD/JPY formed an Inside bar. To continue the decline, bears need to pull the pair below support at 108.90 and 108.30. On the other hand, a break of resistance at 109.9-110.15 with the following triggering of the “Bat” pattern will increase the risks of a pullback.
On H1, USD/JPY went outside of a triangle. This increases the odds of formation of the “Crab” pattern with the target at 161.8%. The condition needed to resume the downtrend is the decline below support at 108.90.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising lines.
On the daily chart of EUR/GBP, bears couldn't break the support at 0.87 ( the bottom line of the longterm consolidation within the "Spike and ledge" pattern)
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...