EUR/JPY: bears are laying down conditions

EUR/JPY: bears are laying down conditions


SELL 130.85 SL 131.4 TP1 129.85 TP2 129.15 TP3 127.4

SELL 129.35 SL 129.9 TP1 128.35 TP2 127.4 TP3 125.75

On the daily chart, EUR/JPY keeps forming a “Shakeout-Fakeout” pattern. The return of the price to the middle of 129.15-132.15 allowed forming short positions. To continue the decline, bears need to pull the euro below 129.15.


On H1, EUR/JPY reached 113% target of the “Shark” pattern and the risks of a pullback to 23.6%, 38.2% and 50% of the wave CD increased. Such corrections are usually used for selling.



XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

Latest news

The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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