EUR/JPY: will the wedge save bears?

EUR/JPY: will the wedge save bears?

Recommendation:

SELL 132.10

SL 132.65

TP1 131 TP2 129.15

On the daily chart of EUR/JPY, a break of the upper border of the 129.15-132.15 range with the following retest means that bulls are in control of the situation. They aim at the 88.6% target of the “Shark”.  

EUR1.png 

On H1, EUR/JPY reached targets of the “Wolfe waves” and the junior “Shark”. The senior “Shark” is still in place. At the same time, the return of the pair to support at 132.1 will end the formation of the “Widening wedge”.

EUR2.png

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Latest news

AUD/JPY looks exposed

AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.

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