USD/CAD is forming a “Three touches” pattern. A pullback from the upper border of the downtrend channel allowed bears to return the initiative.
USD/JPY: yen is taking the lead
TP1 108.8 TP2 108 TP3 107.8
On the daily chart of USD/JPY, bulls made an attempt to bring the pair to May high in order to trigger AB=CD with a target at 200%. It ended with a pin bar. A break of its low will allow bears to counterattack counting on the formation of the “Bat” pattern.
On H1 of USD/JPY, a break of the lower border of the uptrend channel will increase the risks of triggering the “Shark” and the “Head and Shoulders” pattern. It signals a pullback to the short-term uptrend.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…