EUR/JPY: bears are ready for a new attack

EUR/JPY: bears are ready for a new attack

2019-11-11 • Updated

Recommendation:

SELL 128 SL 128.55 TP1 126.90 TP2 125.80

On the daily chart, bears attempted for the second time to test important support at 128. It failed, but sellers don’t give up and hope to develop correction and reach 88.6% target of “Shark” pattern.

EUR.png

On H1, EUR/JPY formed “Head and Shoulders” pattern. A break of the neckline near 128.00 support with simultaneous activation of the AB=CD pattern will create an opportunity for a pullback to the uptrend towards 125.60-125.80.

EUR2.png

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