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.



USD/JPY: the Bulls don’t want to give up

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the market is breaking out the resistance of Tenkan-sen and Kijun-sen.

AUD/USD: market is oversold

Bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market is oversold and aussie may go to Tenkan-sen in correctional movement.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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