EUR/JPY Long-Term Trend: Bullish
Key Resistance Levels: 131.245, 131.628, 132.533.
Key Support Levels: 130.645, 130.168, 129.662.
1-Hr Time Frame:
The price on the higher time frame is in a clear upward movement where the market is traded inside a bullish channel formation. The pair is correction to the highlighted support where after it a new bullish impulsive wave could be seen.
EUR/JPY Medium-Term Trend: Bullish
15-Mins Time Frame:
On the lower time frame, the price is bouncing inside a bullish flag formation where it posted an accumulation phase near the area of confluence made of the 50% Fibonacci retracement level and the bespoke support. This will lead to the end of the correction and a move to the upside.
Buy Market Order @ 130.691
TP 1 @ 131.245
TP 2 @ 131.628
Stop Loss @ 130.470
Trade Safely 🙂