Irregular bullish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with narrowing channel of Tenkan-Kijun.
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.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of GBP/USD, bulls could return the pair to the upper border of the downward channel.
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...