USD/CHF is capped by resistance
USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01.
EUR/JPY: bulls got free
Recommendation:
BUY 134.00
SL 133.45
TP1 135 TP2 136
On the daily chart, EUR/JPY left the medium-term consolidation range 131.50-133.95 as it traded within “Spike and ledge” pattern. As a result, the pair resumed bullish trend and the chances of advance to 200% of AB=CD pattern increased. It’s situated near 136.
On H1, EUR/JPY formed a “Widening wedge”. The fact that it went to point 5 means that bulls have total control. Pullbacks to supports may be used for forming long positions.
Ivan Karamazov
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USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.
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