Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a weak goldean cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are on the weak Kijun’s support.
EUR/JPY: the truce has run over time
BUY 133.05 SL 132.5 TP1 134.05 TP2 135
SELL 132 SL 132.55 TP1 131.25 TP2 130.4 TP3 129.8
On the daily chart, EUR/JPY is consolidating within a bullish trend. A break of its lower border and exit outside the uptrend channel will increase the risks of a pullback to 129.80.
On H1, EUR/JPY got stuck between 132 and 133.05. A successful test of its lower border will allow triggering of AB=CD pattern with a target at 200%. On the other hand, a break of resistance at 133.05 creates room for the uptrend’s resumption.
Bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; a market is overbought and under the strong resistance of 0.8030.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel Tenkan-Kijun; the market is in correction phase.
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