It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
EUR/JPY is attacking a fortress
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.
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).
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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