EUR/JPY is going north

EUR/JPY is going north


BUY 133.25 SL 132.7

TP1 134.25 TP2 136

BUY 134.5 SL 133.95 TP 136

On the daily chart, EUR/JPY keeps trading within an uptrend and junior and senior AB=CD. Their 161.8% and 224% targets are near 136. The recent resistance at 133.50 acts as support.


On H1, EUR/JPY formed the “Widening wedge” pattern. A break of the lower border of an uptrend channel and triggering of the “Shark” pattern will increase the risks of correction towards 133.25. On the other hand, renewal of October low will allow bulls to keep pushing the pair higher.



USD/JPY: new lows of the Dollar

Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.

AUD/USD: aussie in consolidation

Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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