EUR/JPY Cup With Handle Pattern Suggests Further Gains

June 01, 2017 13:26

The EUR/JPY has formed a cup with handle pattern (blue rectangle) and currently it is targeting D H4/ 100 % Fibonacci extension confluence. The POC zone serves as a strong support and possible now moment buyers could buy from the zone if we see a retracement into the POC zone. The POC 124.30-50 (EMA 89, trend line, handle top, ATR pivot, 61.8 Fib extension). EUR/JPY is targeting 124.98 and if we see a 1h breakout or 4h close above the level then 125.30 is possible.

Follow @TarantulaFX on twitter for latest market updates

Connect with Nenad Kerkez T on Facebook for latest market updates.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

Admirals An all-in-one solution for spending, investing, and managing your money

More than a broker, Admirals is a financial hub, offering a wide range of financial products and services. We make it possible to approach personal finance through an all-in-one solution for investing, spending, and managing money.