Recommendation: BUY 0…
EUR/JPY: euro is in the ledge
TP1 134.60 TP2 136.00 TP3 137.70
On the daily chart, EUR/JPY is forming a “Spike and ledge”. A break of the upper border of the 131.5-133.95 range will create grounds for the pair going to 200% target of AB=CD. On the other hand, successful test of support at 131.50 will trigger the “Bat” pattern. Its 88.6% target corresponds to 128.30.
On H1, EUR/JPY formed a “Widening wedge” pattern. To resume the uptrend, there’s a need for a successful test of resistance at 133.6.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…