EUR/JPY: bulls want to continue the party
Read the article on FBS website
Recommendation:
BUY 130.70
SL 130.15
TP1 131.70 TP2 133.40 TP3 136.70
On the daily chart, EUR/JPY keeps forming the junior “Ideal butterfly” pattern and the senior “Shark”. Bulls managed to settle above an important support at 131.05 (50% of the last medium-term descending wave) and are ready to continue the rally.
On H1, EUR/JPY is forming a “Spike and reversal with acceleration”. Bulls are dominating at the market, so pullbacks to dynamic support (EMA21) may be used for buying.
