EUR/JPY broke resistance level 131.50

EUR/JPY broke resistance level 131.50

  • EUR/JPY broke resistance level 131.50
  • Next buy target - 135.00

EUR/JPY continues to rise after the earlier breakout of the key resistance level 131.50 (which stopped the previous impulse waves (i) and i, as can be seen below). The breakout of the resistance level 131.50 accelerated the active minor impulse wave 3, which belongs to the sharp intermediate impulse wave (C) from last April. EUR/JPY expected to rise further to the next buy target at the next resistance level 135.00 (target price for the completion of the active impulse (C)).


EUR/USD: "V-Top" pattern

The pair is likely going to test the nearest support at 1.2313. If a pullback from this level happens little later on...



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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