EUR/JPY: euro says “bye” to consolidation

EUR/JPY: euro says “bye” to consolidation


BUY 133.5

SL 132.95

TP1 135 TP2 136.1

On the daily chart, EUR/JPY is consolidating in the 131.65-133.50 range within the “Spike and ledge” pattern. The trend is bullish, so it’s necessary to prefer buying. A break of resistance at 133.50 will increase the risks of triggering junior and senior AB=CD pattern.


On H1, EUR/JPY formed a widening wedge. The pair’s return to 78.6-88.6% of the wave 4-5 points at bulls’ strength. To continue the rally a successful test of resistance at 133.50 is necessary.



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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.


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