USD/JPY
The pair continues to be in the range of symmetric triangular pattern, the next time the price will get closer to the trend line of the triangle it will be possible to see its breakout.
Potential trade
As of now, after the creation Friday of the small body and long tail of the candlestick from its upper position there is a short trade from its break down of 81.50 with a stop above the tail at 83.10, first target 80.10, and second target 79.10.
As can be seen by the graph bellow:
EUR/GBP
The pair broke out on Friday as a long diamond pattern, one can search for long position after a correction of at least 38.2 Fibonacci from the last long movement on the hourly time frame, targets in the area of 0.8750. (Blue area).
As can be seen by the graph bellow:
Important News:
12:00 (GMT) – ECB President Trichet Speaks
13.30 (GMT) – Building Permits m/m
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