It's likely that the pair is going to test the next support at 1.2994 - 1.2977. A pullback from this area could be a departure point for...
EUR/JPY rising inside minor impulse wave 5
- EUR/JPY rising inside minor impulse wave 5
- Next buy target - 131.30
EUR/JPY recently reversed up strongly from the combined support zone lying between the key support level 128.00, lower daily Bollinger Band, 38.2% Fibonacci correction of the upward price impulse from the middle of June and the upper trendline of the recently broken wide weekly up channel from 2016 (acting as support after it was broken). The upward reversal from this support zone started the active impulse wave 5. EUR/JPY is expected to rise to next buy target at the next resistance level 131.30 (high of the previous wave (b) from the start of August).
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…