Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Kijun-sen; the market supported by Tenkan-sen and it will continue the uptrend.
EUR/JPY: bulls will surf
TP1 133.3 TP2 134.15
On the daily chart, EUR/JPY formed “Wolfe waves” and a pin bar. Their formation will increase the odds of the uptrend resumption. If bulls manage to return inside the uptrend channel, risks of advance to 224% and 161.8% targets of senior and junior AB=CD patterns will significantly increase.
On H1, a break of the diagonal resistance at 2-4 within the “Wolfe waves” pattern will become a signal for opening long positions towards 113% target of the “Shark” pattern.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices are a tested the main daily resistance, but the market needs a correction.
Recommendation: BUY 0…
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