EUR/JPY is attacking a fortress

EUR/JPY is attacking a fortress

2019-11-11 • Updated

Recommendation:

BUY 131.2

SL 130.65

TP1 132.15 TP3 133.15 TP3 134.15

On the daily chart, a pullback of EUR/JPY after reaching 88.6% target of the “Bat” is dragging on. A break of resistance levels at 78.6% and 88.6% of the wave AD usually points at the resumption of growth in the wave XA.

EURJPY daily.png 

On H1, EUR/JPY is testing convergence area near 88.6% target of the “Shark”. To continue the advance, bulls need to push the pair above the resistance at 131.20 (88.6% of the wave AD of the “Bat” pattern).

EURJPY h1.png

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