EUR/JPY poised for a break out.....................but which way?...from ralfkdean

04 May 2022, 20:45 · Views 1,766

For several sessions EUR/JPY has traded in a narrow 120 pip range as it seeks direction.

The chart structure on the Daily time frame looks BEARISH with a target of 131.68 (now 136.96) where the 200 EMA sits. To the north the recent high was 139.96 but this looks unlikely to be approached before we see a pull back. I'm expecting price to break the lower trendline and head for support at 132 area over the next few days.

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ralfkdean

Gold is declining. I'm SHORT from 2940. Target initially is WR1 at 2931. At 2931 I'll close half and let the trade run to the 200 EMA on H1 at 2930 area.

ralfkdean