Recommendations:
SELL 129.2 SL 129.75 TP1 128.2 TP2 127.2 TP3 125.6
BUY 130 SL 129.45 TP1 131 TP2 132.15 TP3 135.9
On the daily chart of EUR/JPY, bulls and bears are fighting for the upper boundary of the downward channel. If the bears are stronger, the pair will move to the 88.6% target of the “Shark” pattern. Vice versa, if bulls succeed, the pair will reach targets of the “Bat” pattern.
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On H1, the further direction of the pair will depend on the retest of the resistance at 129.2. In case of the rebound, the pair will keep sharply declining to the 88.6% target of the “Shark” pattern. A break of the resistance will increase odds of the “Shakeout-Fakeout” pattern.
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