The EUR/JPY is making a bullish zig-zag which is supported by an ascending trend line. We should see a continuation of uptrend.
The JPY weakness might continue today and during this week. The POC zone 126.50-75 is supportive on a positive bullish momentum. We can spot a T-89 pattern along with a trend line rejection. As long as 126.25 holds, intraday bulls should be safe. The highest projected target is 127.32. Intra-week longs might target W H3 camarilla pivot 127.76. 4h close above W H3 will target W H4 128.36. Watch for POC rejection and/or continuation of the bullish trend.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
This article was originally posted on FX Empire
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