EUR/JPY:  the euro doesn't have strength

EUR/JPY: the euro doesn't have strength

Recommendation:

SELL 127.3

SL 127.85

TP1 126.3 TP2 126 TP3 125.55

On the daily chart of EUR/JPY, if bulls can’t pull the pair out of the downward channel and break the resistance at 128.85, it will signal their weakness. As a result, risks of the fall to 88.6% and 113%  targets of the “Shark” pattern will increase.

eurjpy_d.png

On H1, the “Shark” pattern is implementing. A rebound from the resistances at 128.3 and 129.2, and a break of the support at 127.3 can be used for selling.

eurjpy_60.png

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Latest news

XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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