EUR/JPY: bulls make a trap

EUR/JPY: bulls make a trap


BUY 130.1

SL 129.55

TP1 131.1 TP2 132.1 TP3 133.45

On the daily chart of EUR/JPY, the pair keeps going up to 127.2% and 88.6% targets of “Perfect butterfly” and “Shark” patterns. To encourage the rally, the pair needs to break the resistance at 132.6 (61.8% from the last medium-term downward wave).


On H1, there is the “Spike and reversal with acceleration” pattern.  Bears try to counterattack and implement the “Shark” pattern. The rebound from the support near the 88.6% target will be a signal to buy.  



USD/ZAR met resistance

USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.

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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