USD/JPY: yen met 3 Indians

USD/JPY: yen met 3 Indians


BUY 109.8

SL 109.25

TP1 110.8 TP2 112

On the daily chart, another attempt of bulls to return inside the triangle was unsuccessful. In order to have another chance, buyers need to keep the pair inside the medium-term channel between 108.50 and 114.50. A successful test of its lower border will open the way down to 161.8% target of the AB=CD pattern.


On USD/JPY there's consolidation within the inverted “Spike and ledge” pattern on the basis of 1-2-3. Together with “Three Indians” it’s a serious reversal pattern.




EUR/USD: euro wants to surf

On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.  

USD/JPY: the Bears have won

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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