EUR/JPY Diving Board and V Shaped Reversal Should Make the Pair Even More Bullish
|The EUR/JPY has formed the two important patterns.We should see a bounce from the zone where the arrows is pointing up.
124.60-70 zone could provide a bounce as V shaped reversal has already made a bounce and now we see a retracement. There is a triple confluence in the lower bottom where the arrow is pointing up. Targets for this move are 125.05 followed by 125.20. Final target is 125.50 as the Full ATR projection is slightly above D H3 that stands at 125.35. Partial profit taking is advised close to important above mentioned levels.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.