EUR/JPY: bulls are preparing an attack

EUR/JPY: bulls are preparing an attack

Recommendation:

BUY 130.65 S

L 130.1

TP 131.65 TP2 133.8

On the daily chart, EUR/JPY entered the dead zone between the short-term downtrend and the long-term uptrend channels. To develop correction, bears need to form and reach targets of the “Widening wedge”. The presence of the inside bar creates a possibility for the short-term trades.

EURJPY.png 

On H1, EUR/JPY is consolidating in range as the “Shark” pattern is transforming into 5-0. Bulls managed to lead the pair outside the downtrend channel. To resume the uptrend, they need to overcome resistance at 130.65.

EURJPY2.png

eur

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