EUR/JPY: bulls enter the crossroads

EUR/JPY: bulls enter the crossroads

2019-11-11 • Updated

Рекомендация: BUY 129.75 SL 129.2 TP1 130.95 TP2 131.8

On the daily chart, EUR/JPY bulls prepare an attack on the horizontal resistance aiming to return the pair inside the previous medium-term rising channel. If they succeed, risks of the bullish trend resumption will significantly rise.

JPY1.png  

On H1, the unsuccessful attempt of bears to make a “Head and Shoulders” pattern points at sellers’ weakness. A break of diagonal resistance will allow the bulls aim for 88.6% and 113% targets of the “Shark” pattern.   

JPY2.png

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