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EUR/JPY: Bulls are going to attack once again
2019-11-11 • Updated
On the EUR/JPY daily chart, there is an uptrend. Bulls failed to test the resistance at 128.9 (61.8% from the XA wave of the Bat pattern). A successful retest will increase the risks for the realization of the targets in junior and senior AB=CD patterns. They form the convergence zone 129.95 – 130.4.
On the EUR/JPY hourly chart, after the long rise, the pair stepped into the consolidation range of 127.5 – 128.9. A break of its lower border might lead to the development of the correction. In contrast, a successful test of the upper border will lead to the restoration of the rally.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...