Japan's inflation is at 2%, but what about a weaker Yen?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
EUR/JPY: bulls got free
2019-11-11 • Updated
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.
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