EUR/JPY: bears are following a shark

EUR/JPY: bears are following a shark

2019-11-11 • Updated

Recommendation:

SELL 132.25

SL 132.80

TP1 131.25 TP2 130.45

On the daily chart, EUR/JPY is slowly but surely moving 113% target of the “Shark” pattern. It settled below an important support at 132.2 (23.6% of the long-term bullish wave) and formed a bar with a long upper shadow – a sign that bears are serious.  

EUR1.png  

On H1 of EUR/JPY, sellers managed to reach targets of a triangle. If their rivals fail to return the pair inside this pattern, a pullback from resistance at 132.20-132.30 will be a signal for short positions.

EUR2.png

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