EUR/USD: bearish 'Engulfing' pattern
The market is likely going to test the nearest support at 1.1730. If a pullback from this level forms next, bulls will probably try to...
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)).
Dmitry Chernovolov
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