EUR/JPY: yen prefers waves

EUR/JPY: yen prefers waves

Recommendation: SELL 128.45 SL 129 TP1 127.45 TP2 126.75 TP3 126.5

On the daily chart, EUR/JPY is fighting for an important level of 128.85. If buyers win, the odds of triggering “Ideal butterfly” and “Shark” patterns with targets at 127.2% and 88.6% will increase. On the other hand, bears’ victory will allow them to form AB=CD pattern. Its 161.8% target is near 120.7.


On H1 of EUR/JPY, there’s a bearish “Wolfe waves” pattern. A confident break of support at 128.45 will trigger a “Shark” pattern with targets at 88.6% and 113%.




USD/JPY took a blow

USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.

Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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