Recommendations: SELL 0…
EUR/JPY: no one wants to yield
Recommendation: BUY 134 SL 133.45 TP1 135 TP2 136 TP3 138
On the daily chart, EUR/JPY keeps consolidating in the 131.50-133.95 within the “Spike and ledge”. Another test of resistance at 133.95 in case of success will increase the odds of an advance to 200% target of AB=CD.
On H1, a “Widening wedge” pattern is still actual. Bulls and bears didn’t choose a winner, but a successful test of resistance at 134 will mean the victory of the euro against the Japanese yen.
Recommendations: SELL 1…
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines; the market had corrected to Tenkan-sen and ready to continue the main trend.
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.