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 returned to the convergence zone
On the USD/JPY daily, the quotes reached the lower border of the downward trading channel, but, then, they returned 108.8. There is a target 161.8% in AB = CD and 50% correction level from the last long-term upward wave. The further movement of the pair will depend on the test of this level.
On the USD/JPY hourly chart, the rise of quotes above the corrective high at 109.45 will activate the "Shark" pattern. Its 113% target is located in the area of 110.05-110.1. There is the upper border of the descending channel. Big sellers might be very active near the resistance at 110.25.
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...