EUR/JPY: bulls are taming a Dragon

EUR/JPY: bulls are taming a Dragon

2019-11-11 • Updated

Recommendations:

BUY 130.9

SL 130.35

TP1 132 TP2 133.9

 

BUY 130.65

SL 130.1

TP1 132 TP2 133.9

 

On the daily chart, the attempt of bulls to settle above 132 failed. To start correction, bears need to conquer diagonal support in the form of the lower border of an uptrend. The lack of progress in this will return the initiative to buyers.

EUR`.png 

On H1, EUR/JPY finishes forming “Dragon” pattern. Pullbacks toward support at the “Coil of the Dragon’s Tail” and the following rebounds will allow forming long positions.

EUR2.png

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