This is a follow up and an expansion on our GBPUSD chart posted last week (see link to related ideas below). The recent rejection of $1.5660/1.5700 has resulted in a loss of the uptrend from the July 8, 9, and 24 lows. In context of the potential longer-term pattern - a bearish rising wedge that commenced with the break in price on July 7 and subsequent...
USDJPY has been mired below ¥124.60/65 since June 9, when on the H4 timeframe an outside engulfing/key reversal bar transpired. However, for the first time in two months, USDJPY has pierced the topside resistance band, clearing out ¥124.60/65 after the stronger than expected US ISM Services report for July. With the H4 indicators (Stochastics and MACD) turning...