Currency analyst

EUR/JPY: bulls are going to counterattack

On the EUR/JPY chart, "bears" are trying to return to the boundaries of the triangle. If they succeed, the euro may fall to the level of 114.24 (38.2% Fibonacci of the downward wave). In contrast, a rebound from the diagonal support will create the prerequisites for the "bullish" trend restoration. Its Targets are located at the levels of 117.24 (61.8%) and 117.8 (88.6% in the "Shark" pattern). 

On the EUR/JPY hourly chart, the correction located near the support line at 114.9 is going to be completed. There is a target at 127.2%  of AB = CD, and the level of 38.2% of the last upward wave. The next point of the entry into longs will be sought at 114,24-114,44.


BUY 114,9 SL 114,35 TP1 115,74 TP2 117,24,

BUY 114,25 SL 113,7 TP1 115,74 TP2 117,24.

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