EUR/JPY: follow the chart to determine your trade

EUR/JPY: follow the chart to determine your trade

Recommendation:

SELL 128 SL 128.55 TP1 127 TP2 126.6 TP3 125.6

BUY 132.15 SL 131.6 TP1 133.15 TP2 134.15 TP3 136.15

On the daily chart of EUR/JPY, the correction to the 4-5 wave within the implementation of the “Broadening wedge” pattern keeps going. A pullback from the diagonal support will support bulls and will let them continue the rally to the 88.6% target of the “Bat” pattern. On the contrary, a return of the pair to the downward channel will increase risks of the fall to the 88.6% target of the “Shark” pattern.

eurjpy_d.png

On H1, the pair is moving to targets of the “Spike and reversal with acceleration” pattern.

eurjpy_60.png

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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