EUR/JPY: no one wanted to give in
Read the article on FBS website
Recommendation:
BUY 126.9 SL 126.35 TP1 127.9 TP2 129
SELL 124.95 SL 125.5 TP1 123.95 TP2 122.95 TP3 120.3
On the daily chart, EUR/JPY reached 88.6% target of the “Bat”. If the current convergence area doesn’t stop bears, risks of transformation of “Bat” to “Crab” with target at 161.8% will increase.
On H1, there are prerequisites for a junior “Shark” in the area of 127.2 interim target of the senior “Crab” pattern. To trigger it, bulls will need a successful test of resistance at 126.90.
