USDJPY seems to have completed its pullback after a very impulsive bullish run, the zone that is currently holding looks like a right should in a H&S pattern. I am bullish up to the 111.000 region.
After being in a wedge and breaking towards the down side oil has pulled back to the key level of 51.00 with a strong rejecting signally that sellers are still present. The Daily candle also engulfed Fridays bullish candle.
NZDUSD has been very choppy the last year and a half but it has slowly ascended within a wide channel formation. The pair had a very strong bearish move after yesterdays interest rate hike but it is yet to approach the bottom support of the ascending channel. I am looking for a brake of the channel and if it's broken I would go short @ 0.69876. My first target...
Usdjpy is running towards a crucial weekly support turn resistance area. I think the market should have some sort of correction before continuing higher.
