EUR/JPY: no one wants to yield

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.

EURJPY1.png 

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. 

EURJPY2.png

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