EUR/JPY: euro returned to the corridor
Read the article on FBS website
Recommendations:
BUY 134.00 SL 133.45 TP1 135 TP2 138
SELL 131.5 SL 132.05 TP1 129 TP2 128.2
On the daily chart, EUR/JPY there are “Shakeout-fakeout” and “Spike and ledge” patterns. Other tests of resistance at 133.95-134 or support at 131.50 will increase the risks of the pair getting to 200% and 88.6% targets of AB=CD and the “Bat”.
On H1, there are the “Widening wedge” and “Wolfe waves”. To resume the long-term uptrend the pair needs a successful test of resistance at 134. To develop correction the euro should break below 131.50.
