EUR/JPY: bulls are trying to resume the uptrend

EUR/JPY: bulls are trying to resume the uptrend

Recommendations:

BUY 131.85

SL 131.3

TP1 132.65 TP2 133.25 TP3 136.65

On the daily chart of EUR/JPY, the “Shakeout-Fakeout” pattern is implementing.  It is worth to sell at the 130 level. To resume the uptrend and reach the 88.6% target of the “Shark” pattern, the pair needs to break the April high.   

eurjpy_d.png

On H1, bulls hope to implement the corrective “Three Indians” pattern. To succeed, bulls need to break the resistance at 131.85 and pull the pair out the downward channel.

eurjpy_60.png

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