EUR/JPY: bulls got free

EUR/JPY: bulls got free


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.





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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