The wave of ups and downs in the Forex market did not bypass the exotic currencies in 2018. Let’s look at how analysts predict the performance of those ones, which suffered the most during 2018 - the Brazilian real and Turkish lira.
USD/JPY: yen is playing with Shark
On the USD/JPY daily chart, target 88.6% of the inverted Shark pattern has been achieved. The risks of the pullback towards 23.6%, 38.2% and 50% levels within the transformation of the Shark pattern into pattern 5-0 increased. Rebounds from the support can be used for the opening of long positions.
On the USD/JPY hourly chart, the Bears expect to return quotes within the borders of the downward trading channel after the realization of the Shark pattern. The Bulls have other plans. They will protect the 110.6 level trying to prevent the activation of the pattern.
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…