EUR/JPY: Uncertainties around the EUR

EUR/JPY: Uncertainties around the EUR

Recommendation: SELL 127.55 SL 128.1 TP1 126.55 TP2 125.75 TP3 124.8, BUY 129.95 SL 129.4 TP1 130.95 TP2 131.15 TP3 132.5

On a daily chart of EUR/JPY, there is a consolidation based on the implementation of the “Broadening Wedge” pattern. The break of the resistance at 129.95 and implementation of the “Shark” pattern with the 88.6% target are needed to resume the long-term uptrend. Otherwise, if the pair moves back to the borders of the downward channel, the bearish pressure will increase.

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On H1, the implementation of the “Spike and ledge” pattern continues. If the pair moves out of the 127.55-129.55 range, its future direction will be certain.

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Similar

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

USD/CAD may be capable of more

USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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