EUR/GBP can’t leave the consolidation range of 0.87-0.9020. It was formed in line with the “Spike and ledge” pattern.
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.
On the daily chart, bears are in control. They are still hoping to push the pair to 200% target of AB=CD.
Bearish Ichimoku Cloud with falling Senkou Span B; a cancelled golden cross of Tenkan-sen and Kijun-sen.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…