Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
EUR/JPY: no one wants to yield
2019-11-11 • Updated
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.
Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
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