The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
USD/JPY: yen wants to be set free
Recommendations: BUY 110,25 SL 109,7 TP1 111,5 TP2 113,2.
On the USD/JPY daily chart, a bar with a long shadow was formed. The Bears will try to break the diagonal resistance in the form of the upper boundary of the downward trading channel and then activate the inverted "Shark" pattern. Its target 88.6% is located near 111.5.
On the USD/JPY hourly chart, for the activation of the Three Indians pattern, the Bulls need to test the convergence area 110,15-110,25. If they succeed, they will be able to push the quotes towards 111.6 and 113.2.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
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…