USDJPY is heading towards the resistance line of a Ascending Triangle. If this movement continues, the price of USDJPY could test 155.8294 within the next 2 days. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.
The last 8 4 hour candles on S&P500 formed a Pennant pattern and broken out through the pattern lines, indicating a possible bearish movement towards the price level of 5971.3683.
Rising Wedge pattern identified on XAUUSD has broken through a support level with the price momentum continuing to move in an downward direction. A solid trading opportunity continues with the price expected to reach 2792.5989 in the next 20.
A strong resistance level has been breached at 21638.8027 on the 30 Minutes NAS100 chart. Technical Analysis theory forecasts a movement to 22059.1699 in the next 2 days.
This trade setup on GBPJPY is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bullish breakout through resistance, it seems to suggest that we could see the next price move to 192.5952.
A strong resistance level has been identified at 77.4500 on the 30 Minutes BRN/USD chart. BRN/USD is likely to test it soon.
Those of you that are trend followers are probably eagerly watching FTSE100 to see if its latest 7.25% move continues. If not, the mean-reversion people out there will be delighted with this exceptionally large 43 days move.
LTCUSD is heading towards 131.0700 and could reach this point within the next 5 hours. It has tested this line numerous times in the past, and this time could be no different, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
