EUR/JPY: the truce has run over time

EUR/JPY: the truce has run over time

Recommendations:

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.

EURJPY1.png 

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.

EURJPY2.png

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