Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen.
USD/JPY: yen is playing cat and mouse
TP1 110 TP2 110.45
On the daily chart, a return of the pair inside the downtrend channel shows that bears have total control. Never the less, there may be a small pullback from 78.6% and 88.6% of the wave XA of the “Bat” pattern.
On H1, a pullback of USD/JPY from 200% target of AB=CD with the following formation of Anti-Turtles will signal potential correction. For a start, bulls have to push the pair above 109.45.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising lines.
On the daily chart of USD/JPY, a break of the support at 112.85 and an exit out of the upward channel may mean an implementation of reversal 1-2-3 and "Three Indians" patterns.
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...