EUR/JPY Long-Term Trend: Bullish
Key Resistance Levels: 131.093, 131.330, 132.000.
Key Support Levels: 130.640, 130.415, 130.246.
The price on the higher time frame managed to break the bearish channel to the upside after a throw over to the downside of the pattern. The market rebounded and now it is traded above the bespoke resistance level (now support) around the 130.641 JPY which will lead to a further movement to the upside.
EUR/JPY Medium-Term Trend: Bullish
15-Mins Time Frame:
On the lower time frame, the price succeeded to break the bullish flag to the upside after finding buyers near the highlighted zone where it posted an inverse head and shoulders signaling a potential and a move to the upside.
Buy Market Order @ 130.687
TP 1 @ 131.093
TP 2 @ 131.330
Stop Loss @ 130.484
Trade Safely 🙂