EUR/JPY: the pair plans its further movements
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Recommendation:
BUY 130.1 SL 129.55 TP1 131.1 TP2 132.45 TP3 133.15,
SELL 127.55 SL 128.1 TP1 126.55 TP2 125.75 TP3 124.5
On the daily chart of EUR/JPY, the consolidation as a part of the "Broadening Wedge" and "Shark" patterns' implementation continues. Bears plan to reach the 88.6% target of the "Shark" pattern. Bulls, in their turn, hope that the break of the resistance near the 130 mark will push the pair up.
On H1, the "Spike and Ledge" pattern is implemented. If the pair moves out of the "ledge" between 127.55 and 130.1, the risks of the fall towards the 88.6% target of the "Bat" pattern and the 161.8% target of the AB=CD pattern will increase.
