Last week, we have predicted whether a pull back to continue the bullish market or a return in the 1,15-1,13 weekly range for this pair. This second scenario occurred.
Now we expect the price to reach the 1,13 and mark a pause. We will check for bullish signal in H4 or H1 in this level next week, to continue our 1,15-1,13 range scenario.
If we break the range...
We expect the USDJPY to consolidate in the daily chart. We could see a range to take place between the 110 and 108 in the close future.
We will wait for a bearish signal in H4 or H1 if the price reaches the 110 level at the beginning of next week, and will aim the 108 level if so.
If the price goes upper than the 110, we will wait for a consolidation.
Fundamentally, the JPY would suffer of the index rebound as the situation between US and China is getting better.
Technically, the price is set on its weekly support and wait for a catalyser to choose its direction.
We will be bearish if the price break down the weekly support and bullish if we see a good signal in H4 (range breakout for example).
EURUSD broke up the 1.14800 last week which was the top of our weekly/daily range.
Now we can say the EURUSD is now in a bullish market and we will aim to reach the 1.18 at mid term.
The price retraced to our 1.14800 support at the end of last week. We will be very focused at the beginning of next week to see if the price bounce up to continue the bullish market...
Big bearish trends in daily chart and the price is now back in the weekly range after the last week flash crack. We expect the price to stablise a moment before continue to go down or bounce back in the weekly range completely. We wait for the bollinger bands to close down a bit.
Weekly and daily range, we expect the price to have a reaction in the top or in the bottom of the range. Then we shall take a position whether it bounces or it break out one of those levels.
