EUR/JPY is attacking a fortress

EUR/JPY is attacking a fortress

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

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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