EUR/JPY: euro wants freedom

EUR/JPY: euro wants freedom

Recommendation:

BUY 130.3 SL 129.75 TP1 130.95 TP2 132 TP3 132.2

SELL 129.4 SL 129.95 TP1 128.4 TP2 128 TP3 126.7

On the daily chart of EUR/JPY, bulls keep trying to trigger “Shakeout-Fakeout” and “Shark” (targets at 88.6% and 113%). For that, they need to return the pair to the middle of the previous consolidation range of 129.15-132.15.

EURJPY1.png 

On H1 of EUR/JPY, a break of resistance at 130.30 will increase the odds of going to 88.6% and 113% targets of a “Shark” pattern. On the other hand, a decline below support at 129.4 will return the pair inside the downtrend channel and open the way down to 128 and 126.7.

EURJPY2.png

Similar

USD/CAD: loonie is taking off

USD/CAD is forming a “Three touches” pattern. A pullback from the upper border of the downtrend channel allowed bears to return the initiative.

Popular

EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera