EUR/JPY: bulls want to continue the party

EUR/JPY: bulls want to continue the party

Recommendation:

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.

EURJPY1.jpg 

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.  

EURJPY2.jpg

Similar

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: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...

gbp

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera