The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
EUR/JPY: euro is caught in consolidation
SELL 127.1 SL 127.65 TP1 126.55 TP2 126.1 TP3 123.5
BUY 128.5 SL 127.95 TP1 129.05 TP2 120.1 TP3 131.6
On the daily chart, EUR/JPY is consolidating in the 126.55-128.9 range within the “Spike and ledge” pattern. A break of its upper border will increase the odds of a “Shark” pattern. On the other hand, a successful test of a support at 126.55 will open the way down for bears.
On H1, EUR/JPY keeps forming “Wolfe waves” and the “Double top”, A successful test of support at 127.1 will allow bears to continue the way down. On the other hand, a rise above the upper border of the downtrend will give control to bulls.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…