EUR/JPY: the truce has run over time

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.



GBP/USD: pound still supported by Cloud

Expanding bullish Ichimoku Cloud, but falling Senkou Span B(!); a golden cross of Tenkan-sen and Kijun-sen; the market supported by Cloud, but the Bulls can’t continue an existing uptrend.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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