The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
EUR/JPY: bulls are counterattacking
TP1 128.15; TP2 129; TP3 129.15
On the daily chart, EUR/JPY reached 161.8% target of AB=CD. This increases the risks of a pullback to the lower border of the 129.15-132.15 consolidation range. To continue moving down, bears have to renew May low.
On H1, EUR/JPY triggered a “Shark” pattern. Its 88.6% and 113% targets are at 128.15 and 129. The necessary condition to continue the rally is a successful advance above resistance at 127.30.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...