EURJPY heading north -- Positive formation to be completed
Target: 147.65
Risk: 135.00
Technical Reasons:
The pair is about to complete an inverted head and shoulders’ pattern, its neckline located at 136.65, and breaching this level will offer strong positive motive that supports continuing the gains on the short term basis, and the longer term target is represented by surpassing the bullish correction levels and confirm turning to rise.
The exponential moving averages 50 and 100 offer good support to the price from below, and stochastic provides positive signal that reinforces the chances of continuing to rise and breach the mentioned neckline.
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Risk: 135.00
Technical Reasons:
The pair is about to complete an inverted head and shoulders’ pattern, its neckline located at 136.65, and breaching this level will offer strong positive motive that supports continuing the gains on the short term basis, and the longer term target is represented by surpassing the bullish correction levels and confirm turning to rise.
The exponential moving averages 50 and 100 offer good support to the price from below, and stochastic provides positive signal that reinforces the chances of continuing to rise and breach the mentioned neckline.
www.fxhighway.com
www.facebook.com/fxhighwaycom/
twitter.com/
plus.google.com/1054...15961677289743/posts