EUR/JPY: no one wanted to give in

EUR/JPY: no one wanted to give in

Recommendation:

BUY 126.9 SL 126.35 TP1 127.9 TP2 129

SELL 124.95 SL 125.5 TP1 123.95 TP2 122.95 TP3 120.3

On the daily chart, EUR/JPY reached 88.6% target of the “Bat”. If the current convergence area doesn’t stop bears, risks of transformation of “Bat” to “Crab” with target at 161.8% will increase.

EURJPY daily.png 

On H1, there are prerequisites for a junior “Shark” in the area of 127.2 interim target of the senior “Crab” pattern. To trigger it, bulls will need a successful test of resistance at 126.90.

EURJPY H1.png

 

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