EUR/JPY: bears counterattack
Read the article on FBS website
Recommendations:
SELL 132.00 SL 132.55 TP1 131.2 TP2 130.95
BUY 132.60 SL 132.05 TP1 133.25 TP2 133.75 TP3 135.70
On the daily chart, EUR/JPY formed an inside bar after two days of growth. A break of its top will increase the odds of the “Shark” pattern with a target at 88.6%. On the other hand, if the pair renews its low, it will allow bears to counterattack.
On H1, there’s a “Spike and reversal with acceleration” pattern. As long as the pair is above the trendline, bulls will remain in control. A break below support at 132 will increase the risks of a “Shark”.
