EUR/JPY: bulls will surf

EUR/JPY: bulls will surf

Recommendation:

BUY 132.40

SL 131.85

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.

EUR1.png 

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.

EUR2.png

 

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