EUR/JPY: bears pull back, but don’t give up

EUR/JPY: bears pull back, but don’t give up


BUY 131.80 SL 131.25 TP 132.80

SELL 130.50 SL 131.05 TP1 129.50 TP2 128.90

On the daily chart of EUR/JPY, the pair’s exit from the descending channel will create grounds for the “Shark” pattern. The necessary condition for further decline is the successful test of support at 130.50.


On H1, EUR/JPY keeps forming “Wolfe waves” pattern. Bulls are also trying to trigger the junior “Shark” pattern. If they succeed, the odds of advance to its 113% target and then to 78.6% and 88.6% targets of the senior “Shark” pattern will increase.  



Trading GBP/JPY on the news

Britain will release some economic data today. The forecast is positive. It’s possible to try to exploit this idea trading GBP/JPY.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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