Check USD/TRY
USD/TRY has moved sharply down this week falling to the support line since the end of November.
EUR/JPY: the Japanese yen is strong
Reсommendations:
SELL 130.45
SL 131
TP1 129.45 TP2 128.95 TP3 128
On the daily chart of EUR/JPY, the "Broadening wedge" pattern is at its last stage of the formation. To continue the rally, bulls have to break the resistance at 131.15 (23.6% of the 4-5 wave) and 133.15. Vice versa, a return of the pair within the downward channel will increase risks of the correction to the long-term upward channel.
On H1, when the pair reaches the 113% target of the "Shark" pattern and there is a rebound from the resistance at 130.45, it will be a signal to sell within the transformation of the "Shark" pattern to 5-0.
Ivan Karamazov
Similar
Trade ideas for gold
The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.
EUR/CAD is near support
EUR/CAD has approached the support line from the end of October.
Latest news
GBP/USD: confirmed "Thorn" pattern
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF: time to correct?
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
EUR/USD: "Tweezers" on 34 Moving Average
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
Deposit with your local payment systems
