EUR/JPY: bulls have situation under control

EUR/JPY: bulls have situation under control

Recommendations: BUY 124,9 SL 124,35 TP1 126,2 TP2 128. 

On the EUR/JPY daily chart, there is a continuation of the upward movement within the framework of the boundaries of the Deep Shark pattern. Its target is located at 161.8% of the BC wave; it corresponds to the level of 128. Bears' attempt to launch a counterattack has failed; it has become a signal of their weakness.

On the EUR/JPY hourly chart, quotes are moving within the upward trading channel in the direction of the 113% target in the Shark inverted pattern. The signal for opening long positions might occur when quotes go beyond the boundaries of the triangle.


Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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