EUR/JPY: bulls made a stop

EUR/JPY: bulls made a stop


BUY 134.15 SL 133.60 TP1 135.15 TP2 136.00

SELL 132.15 SL 132.70 TP 131.15

On the daily chart, EUR/JPY formed a “Widening wedge” pattern. The trend remains bullish, 161.8% and 224% targets of the junior and senior AB=CD patterns are still in place, so buying is still a relevant strategy. Potential of the correction is limited.


On H1, EUR/JPY is forming the “Shark” pattern. After reaching 113% target the pair will likely pull back towards 23.6%, 38.2% and 50% of the wave CD. It may be used for opening long positions. 



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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