USDJPY has broken through a line of 152.1690 and suggests a possible movement to 153.5127 within the next 3 days. It has tested this line numerous times in the past, so one should wait for a confirmation of this breakout before taking any action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 16 days.
The movement of FTSE100 towards 9448.3301 price line is yet another test of the line it reached numerous times in the past. We could expect this test to happen in the next 7 hours, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.
BRN/USD is heading towards the resistance line of a Channel Down. If this movement continues, the price of BRN/USD could test 62.1069 within the next 18 hours. 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.
GBPJPY is about to retest a key horizontal resistance level near 202.8255. It has tested this level 3 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.
Emerging Channel Down detected on NGC/USD – the pattern is an emerging one and has not yet broken through resistance, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 2.831 and it is expected to move to 2.6183.
Emerging Ascending Triangle pattern in its final wave was identified on the XAGUSD 1 hour chart. After a strong bullish run, we find XAGUSD heading towards the upper triangle line with a possible resistance at 55.0748. If the resistance shows to hold, the Ascending Triangle pattern suggests a rebound back towards current levels.
FTSE100 is heading towards 9455.8301 and could reach this point within the next 23 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.
A movement of 4.34% over 4 days on XAUUSD doesn’t go unnoticed. You may start considering where it’s heading next, a continuation of the current upward trend, or a reversal in the previous direction.
