EUR/JPY: bears counterattack

EUR/JPY: bears counterattack


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”.




USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

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