When to buy EUR/JPY?
Read the article on FBS website
Recommendation:
BUY 129.95
SL 129.40
TP1 131.15 TP2 131.95 TP3 134.05
On the daily chart, if EUR/JPY breaks the diagonal resistance and exits the uptrend channel, it may form AB=CD and trigger a “Broadening wedge”. On the other hand, a pullback will allow bears to continue the selloff.
On H1, there’s a “Wolfe waves” pattern. A successful test of resistance at 129.95 will increase the odds of the pair getting to 130.35 (projection from the point 5) and 131.15 (target on the line of 1-4).
