EUR/JPY: bears try to regain power

EUR/JPY: bears try to regain power


BUY 130.50 SL 129.95 TP 131.50

BUY 127 SL 126.45 TP1 128.5 TP2 129.6 TP3 130.50 

On the daily chart, bears are trying to counter attack and realize the 1-2-3 pattern. The break of support at 128.50 will increase the risks of correction to the current uptrend. For now, its potential remains limited. The nearest support levels are at 127.75 and 127.00.


On H1, EUR/JPY realized “Spike and ledge” and 1-2-3 patterns. A successful test of resistance at 130.50 will create the potential for the uptrend’s resumption. On the contrary, break of support at 128.50 will trigger the “Bat” pattern.



EUR/USD: euro wants to surf

On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.  

USD/JPY: the Bears have won

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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