EUR/JPY: bulls want to continue the party

EUR/JPY: bulls want to continue the party


BUY 130.70

SL 130.15

TP1 131.70 TP2 133.40 TP3 136.70

On the daily chart, EUR/JPY keeps forming the junior “Ideal butterfly” pattern and the senior “Shark”. Bulls managed to settle above an important support at 131.05 (50% of the last medium-term descending wave) and are ready to continue the rally.


On H1, EUR/JPY is forming a “Spike and reversal with acceleration”. Bulls are dominating at the market, so pullbacks to dynamic support (EMA21) may be used for buying.  



How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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