EUR/JPY: euro returned to the corridor

EUR/JPY: euro returned to the corridor

Recommendations:

BUY 134.00 SL 133.45 TP1 135 TP2 138

SELL 131.5 SL 132.05 TP1 129 TP2 128.2

On the daily chart, EUR/JPY there are “Shakeout-fakeout” and “Spike and ledge” patterns. Other tests of resistance at 133.95-134 or support at 131.50 will increase the risks of the pair getting to 200% and 88.6% targets of AB=CD and the “Bat”.

EUR1.png 

On H1, there are the “Widening wedge” and “Wolfe waves”. To resume the long-term uptrend the pair needs a successful test of resistance at 134. To develop correction the euro should break below 131.50.

EUR2.png

 

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