Eurjpy is seen respecting the Head and shoulders pattern in my earlier posts. Tps are as suggested by the horizontal lines. Trade profitably and please pass your comments.
A perfect entry at 156-157 area will confirm a head and shoulders pattern formation with take profits at the marked horizontal lines. Also note that the head is a double top pattern with the potential of driving the price to tp3
Recall my post on GBPJPY few days ago. The price had taken out our envisaged stop loss of 176.2 and is presently close to 178. I suspect that the currency pair is on the mission to hunt stop losses thereby forming a fake out which may end up in a massive profit as is usually the case with with all fake outs. So keep an eye on a breakdown 175-176 horizontal region...
The price at 175-176 is at confluence of a monthly horizontal key level, a weekly channel resistance and a daily rising wedge pattern. A bearish signal at this confluence may see the price through to the formation of a flag pattern with its objective at 135.
Sell @ 175-176
Sl 176.2
Tp1 167
Tp2 160
Tp3 145
Tp4 135
Keep winning with excellent money management.
Price is at confluence of resistance of weekly channel and a daily rising wedge patterns at 175-176. Watch for a bearish signal at this zone
Sl 176.2
Tp1 167
Tp2 160.4
