Levels to trade EUR/USD
EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
EUR/JPY: euro is weaker than yen
Recommendation:
SELL 128.3
SL 128.85
TP1 127.3 TP2 126.3 TP3 125.5
On the daily chart of EUR/JPY, bears managed to pull the pair back to the medium term downward channel and implement the “Shark” pattern. Its 88.6% target is at the level of 125.5. To rise, the pair needs to break above 128.85.
On H1, the pair keeps reaching targets of the “Shark” pattern. Bears are stronger, that’s why pullbacks with rebounds from resistances at 128.3 and 129.2 can be used to sell.
Ivan Karamazov
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USD/JPY: selling may continue
USD/JPY is declining for the fifth day in a row. When the pair fell below 105.00, it entered a new, lower range.
USD/JPY: target for selling
The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.
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