EUR/JPY: bulls are taming a Dragon

EUR/JPY: bulls are taming a Dragon


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.


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.




USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

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