EUR/JPY: bulls are painting AB=CD

EUR/JPY: bulls are painting AB=CD

Recommendation:

BUY 135.00

SL 134.45

TP1 136 TP2 137 TP3 138

On the daily chart, EUR/JPY bulls are trying to continue going up to 200% of AB=CD. Never the less, if bears manage to return the pair inside the previous consolidation range of 131.50-133.95, the risks of a reversal “Shakeout-Fakeout” pattern will increase.

EUR1.png 

On H1, after reaching the targets of the “Widening wedge” and rebound from support at 134, the rally continued. To seal their success, bulls need to renew December high.

EUR2.png

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