Signals on cross-rates: EUR/JPY changes direction!

Earlier, the expectations were expressed regarding this cross-rate about the formation of the “head and shoulders” figure, which remain in force, are postponed. At the moment, the pair EUR/JPY repelled from the neck level and formed a double bottom.

In order to work off a “double bottom” figure, the pair EUR/JPY needs to break through the resistance 132.20-30 and gain a foothold higher. As a result, this will open the way to the resistance levels: 132.60 and 132.80. This movement will indicate the formation of a new shoulder, which will be limited to the resistance level of 133.20.

Hanzenko Anton