EUR/JPY: euro wants freedom

EUR/JPY: euro wants freedom

Recommendation: BUY 131.8 SL 131.25 TP1 132.8 TP2 134

On the daily chart, EUR/JPY tried to lead the quotes outside of the 127.50-131.30 consolidation range to trigger AB=CD pattern and continue rally towards 134. Never the less, formation of a doji bar points at uncertainty and the possibility of a pullback.

EURJPY.png 

On H1, EUR/JPY formed consolidation range of 131-131.70. The closeness of 113% target of the inverted “Shark” pattern makes bulls careful. Only if the case of its confident test will mean the continuation of the advance.

EURJPY2.png

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