Expanding bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen.
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.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…