Forex market overview on 06/16/2023

Hello. Today they showed an excellent rally, who did not listen to my yesterday's hasty conclusions about the end of the correction, well done. Although I even managed to sell EURUSD before lunch and got off with a breakeven. 🙂

USDJPY

Let's look at a couple of USDJPY, at night decisions on their interest rates and probably something will happen here. Today we drew something similar to a pin bar after going to the update high. I specially made a screen H4, it is clear that in the downward movement nothing «reversal» is visible yet, we just rolled back to the high of the last day, after a good impulse. And it is quite likely that growth will continue and goals will be taken from above. Even in the statistics of transactions, the preponderance of sellers at one of the largest brokers encourages continued growth.

I am confused only by a couple of moments in purchases, today, obviously, a lot of liquidity was withdrawn above the maximum and from the top of a long «drank». And why would go even higher tomorrow. A similar situation was today on Gold. Well, the dollar index does not seem to be in growth. Therefore, it would be good to follow the development of the situation. I would see if we go down to FVG 139.93 and if we give a reaction, we can try to buy. Well, it is logical that we are looking for sales below FVG, or even after the overlow of 139.27. Sell ​​targets around FVG 137.20 and there will be a trend line there.

XAUUSD

Above mentioned Gold and look at him. Price Action patterns were not drawn here. But in the morning we shot all the lows of the outset very beautifully, after which they gave rise. I'm sure the road is open up to at least 1985.00, then just above FVG 1992.00. While I would dwell on these goals, it is too early to talk about a global historical move around 2072.00. Tomorrow, most likely, we will make a logical rollback down. But in general, next week I will look for purchases on intraday pullbacks.