EUR/JPY: bulls are dreaming about the rise

EUR/JPY: bulls are dreaming about the rise

2019-11-11 • Updated

Recommendations:

BUY 131.65

SL 131.1

TP1 132.65 TP2 133.7 TP3 134.3

On the daily chart EUR/JPY, the pair reached the 113% target of the “Shark” pattern. As a result, risks of the correction increased. The return of the pair to the previous low is a necessary condition for its implementation. If bulls fail, it will mean their weakness.

eurjpy_d.png

On H1, EUR/JPY reached targets of the triangle. Currently, “Wolfe Waves” pattern is developing. To implement it, the pair should come back to the resistance at 131.65 with its subsequent successful test.

eurjpy_60.png

 

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