
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
2019-11-11 • Updated
Recommendation:
BUY 130.8
SL 130.25
TP1 131.8 TP2 132.8 TP3 133.8
On the daily chart, EUR/JPY is forming a “Dragon”. A break of resistance levels at 130.5 and 131.2 (Fibonacci levels of 78.6% and 88.6% of the wave AD of the “Bat” pattern) and renewal of the “Dragon’s” head will allow bulls to continue the way up.
On H1, a “Shark” is transforming into 5-0. After a pullback from support at 38.2% of the wave CD, bulls seized the initiative. The necessary condition for the continuation of the rally will be the increase above resistance at 130.8.
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
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