EUR/JPY: bulls are acting

EUR/JPY: bulls are acting

Recommendation:

BUY 131.5

SL 130.95

TP1 132.5 TP2 134.8 TP3 136.55

On the daily chart of EUR/JPY, after the pair reached the 78.6% target of the “Gartley” pattern, it rebounded down. The further direction will depend on the test of the diagonal support (the bottom line of the upward channel). If bulls are able to stick above it, odds of the rise to the 88.6% target of the “Shark” pattern will increase.

eurjpy_d.png

On H1, the “Spike and reversal with acceleration” pattern is implemented. To recover the uptrend, bulls need to break the resistance at 131.5.

eurjpy_60.png

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