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.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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