Gold price formed a bearish harmonic ‘Butterfly’ pattern. Still, the detour to $1760 may be the decline it forecasts. In addition, even the pattern allows expecting the increase up to $1780.
USD/JPY: follow the push higher
Information is not investment advice
USD/JPY formed a higher low at the end of last week. Today the pair is testing levels above the 50-day MA. There’s scope for a move up to the 106.50 area if it manages to overcome 106.00. Notice that that area will offer strong resistance so we don’t offer further targets for now.
Trade idea for USD/JPY
BUY 106.05; TP 106.50; SL 105.90
AUD/USD formed an inverted "Head and Shoulders’ and is targeting 0.7815, 0.7840, and 0.7860.
USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
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