Recommendation: SELL 0…
EUR/JPY: bulls went to the stable
TP1 132.05 TP2 131.5
On the daily chart, EUR/JPY is trading in the “Shakeout-Fakeout” pattern. After reaching 161.8% target of AB=CD the pair returned inside the previous consolidation range of 131.50-134.30. A break of the lower border of an uptrend will increase the risks of correction to the long-term bullish trend.
On H1, a successful test of support at 133.05 will allow bears to trigger the “Shark” pattern and make the pair go to 88.6%.
Recommendation: SELL 1…
Expanding bullish Ichimoku Cloud, but falling Senkou Span B(!); a golden cross of Tenkan-sen and Kijun-sen; the market supported by Cloud, but the Bulls can’t continue an existing uptrend.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.