Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
EUR/JPY: bulls are developing an attack
TP1 137.10 TP2 138.00
On the daily chart, the initiative returned to bulls as EUR/JPY rebounded from the uptrend’s lower border. If the pair exits from the current short-term consolidation with the following renewal of January high, this will trigger the pattern AB=CD. Its 127.2% target is at 138.00.
On H1, EUR/JPY is in the sustainable uptrend. A break for the triangle’s upper border moved bulls to the next goal. A successful test of resistance 136.10 creates grounds for continuation to the north.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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