{"id":91783,"date":"2016-06-22T08:28:39","date_gmt":"2016-06-22T12:28:39","guid":{"rendered":"http:\/\/countingpips.com\/?p=91783"},"modified":"2016-06-22T08:28:39","modified_gmt":"2016-06-22T12:28:39","slug":"eurjpy-consolidating-within-bullish-pennant","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/06\/eurjpy-consolidating-within-bullish-pennant\/","title":{"rendered":"EUR\/JPY consolidating within bullish pennant"},"content":{"rendered":"<div id=\"inves-500567389\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 22, 2016<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><b>By Admiral Markets<\/b><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/fxmedia.s3.amazonaws.com\/articles\/2016-06-22_14-02-28.jpg\"><\/p>\n<p>The EUR\/JPY has been consolidating in the bullish pennant for last couple of days. This consolidation is showing a battle between bulls and bears for the next breakout. For trading purpose we have 2 possible scenarios. Twofold scenario is possible due to general downtrend and bullish pennant at L3 support. As the price is generally bearish, we might see a drop from POC zone 117.97-118.20 (H3, DPP, 61.8,EMA89,the top of the pennant) towards 117.50, 117.00 and 116.45. However if we see an upward breakout above 118.25 the price could reach 118.64 and 119.05-20 zone. Watch <a href=\"http:\/\/www.admiralmarkets.com\/trading-platforms\/metatrader4-se\" target=\"_blank\">the correlation table<\/a> and equities. SP500 will move in correlation with EUR\/JPY during NY session.<\/p>\n<p>Follow <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/TarantulaFX\" target=\"_blank\">@TarantulaFX<\/a> on twitter for latest market updates<\/p>\n<p><\/p>\n<p><b>Article by Admiral Markets<\/b><\/p>\n<p>Source: <a href=\"http:\/\/www.admiralmarkets.com\/analytics\/technical-analysis\/eur-jpy-consolidating-within-bullish-pennant\" target=\"_blank\">EUR\/JPY consolidating within bullish pennant<\/a><\/p>\n<hr style=\"border: 1px dotted #eee;\"><a href=\"http:\/\/www.admiralmarkets.com\/\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2016\/03\/AdmiralMarkets-sig-1.png\" align=\"left\" height=\"87\" width=\"141\"><\/a><\/p><div id=\"inves-1907988463\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p style=\"text-align: justify;\">Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Admiral Markets The EUR\/JPY has been consolidating in the bullish pennant for last couple of days. This consolidation is showing a battle between bulls and bears for the next breakout. For trading purpose we have 2 possible scenarios. Twofold scenario is possible due to general downtrend and bullish pennant at L3 support. As the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-91783","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/91783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=91783"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/91783\/revisions"}],"predecessor-version":[{"id":91784,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/91783\/revisions\/91784"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=91783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=91783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=91783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}