Find out how to trade EUR/USD and USD/JPY ahead of the CB consumer confidence release!
Tag - jpy - japanese yen
EUR/JPY has reached the support line connecting 2018 lows and the lower weekly Bollinger band in the 125.50 area.
On the daily chart of USD/JPY, bears managed to reverse the uptrend due to the implementation of the "Three Indians" and "Spike and Ledge" patterns' combination.
On the daily chart of EUR/JPY, the implementation of the "Spike and Ledge" pattern, in particular, the fall of the pair below the lower border of the "ledge" between the 127.6 and 129.25 levels, made the pair reach the 88.6% target of the "Shark" pattern.
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Trade signals for December 24
USD/JPY made a big break down last week and fell until it got supported by 100-week MA at 111.00.
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On the daily chart of EUR/JPY, the implementation of the "Broadening Wedge" pattern continues.
On the daily chart of USD/JPY, bears try to implement the combination of the "Three Indians" and "Spike and Ledge" reversal patterns based on the 1-2-3 one.
USD/JPY may have finally reached the time when it will test levels below the support line.
This week will bring us 3 central bank meetings. Let’s consider how they may turn out for market moves.