Recommendation: BUY 0…
EUR/JPY: bears want to develop correction
Recommendation: BUY 124,9 SL 1,2435 TP 127,9.
On the EUR/JPY daily chart, bears launched a counterattack willing to develop correction and push quotes beyond the upward trading channel. As a result, the Double-Top pattern was formed. To restore the uptrend, buyers need to test the resistance at 125.75.
On the EUR/JPY hourly chart, there is a consolidation in the range of 124.15-124.5. A breakout of its lower border can result in the development of the correction towards 122.85 (88.6% target in the Shark pattern). A successful test of the resistance at 124.9 can lead to the uptrend restoration.
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.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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