This pair has been inside a ranging channel just like the CADJPY pair. Obviously, if CADJPY shows a bullish setup this pair should show a bearish setup because they are negatively correlated pairs. The bear flag pattern of this pair is looking to end at the 78.6% Fibonacci retracement level and make another bearish run.
The pair has been in a ranging channel since May 2020, after the pair retested the resistance level for the 3rd time it made a corrective push to the 78.6% Fibonacci retracement level. For next week, we are expecting the price to bounce off of this level and make another bullish run.
The pair has been inside an ascending channel pattern since September. Currently, the price has reached the 78.6% Fibonacci retracement level and has completed the wave E. A bearish move is expected for next week.
Last week, this pair just consolidated at the highs to form a double top pattern. Now, the pair has completed an ending diagonal pattern right at the resistance level. We are expecting a bearish breakout for this pair next week.
After this pair made a very impulsive up move, it formed a head and shoulders pattern giving a hint for the top of the price. Now, price broke out to the downside and pulled back up and is looking to retest the neckline which coincides with the 61.80% Fibonacci retracement level.
After this pair has made an impulsive bearish move, it made an inverse head and shoulders pattern after hitting the 100% Fibonacci extension level. Currently, the price broke out of the inverse head and shoulders pattern, waiting for a correction to form at the neckline before entering a long order.
Here on the 8-hour time frame, we can see that after an impulsive bullish move price made a head and shoulders pattern which signaled a bearish price reversal. After price made a break out from the neckline, it formed a bullish corrective pattern in the form of a rising wedge. Now, the price is looking to retest the 61.80% Fibonacci retracement level before...
As the US Dollar is looking to have a bullish run we may see this pair show a gain in strength as well. More bullish confirmation is given by the inverse head and shoulders pattern here on the 8-hour time frame. Also, price is rejecting the 61.80% Fibonacci retracement level repeatedly.
This pair is currently within a bear flag pattern. After completing wave E, we may now see price is forming a smaller inner bear flag pattern which is also looking to retest the 61.80% Fibonacci retracement level. Expecting price shows bearish momentum after a breakout from the smaller bear flag continuation pattern.
As the US Dollar is showing a possible gain in strength, we may see XXXUSD pairs to show bearish price action as a response. Here on this pair, price is within an ascending channel pattern and is looking to form a double top pattern before moving to the downside.
As the Japanese Yen continues to show gain in strength, we are expecting XXXJPY pairs to show bearish momentum as a reaction. Here on this pair. we can see a completed head and shoulders pattern. We may see a retest of the neckline and a possible completion of wave C before continuing to the downside.
Price has currently broken out of the ascending channel after completing the five-wave pattern. We are expecting the price to continue its bearish price action to the next key support at the 75.00 level.