GBP/USD: levels to trade
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
EUR/JPY: euro approached the milestone
Recommendation:
SELL 129.60 SL 130.05 TP1 128.60 TP2 127.60 TP3 126.00
BUY 132.15 SL 131.6 TP1 133.15 TP2 134.45 TP3 136.70
On the daily chart of EUR/JPY, a break of resistance at 132.25-132.50 will trigger the “Bat” pattern with a target at 88.6%. On the other hand, a slide to March minimum will allow bears to resume the decline towards 200% target of AB=CD.
On H1, a “Shark” is transforming into 5-0. A successful test of support at 129.60 will increase the risks of a further selloff. On the other hand, advance above resistance at 132.15 will create grounds for correction.
Ivan Karamazov
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