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EUR/JPY Potential Upward Movement

EUR/JPY Long-Term Trend: Bullish

Key Resistance Levels: 133.20, 133.56, 134.10

Key Support Levels: 131.49, 130.86, 130.14

Daily Time-frame:

The price on the higher time frame saw lots of bullish momentum last week and managed to break a resistance line of 131.50. The pair now looks to continue the move after retesting the previous resistance zone that should act as a support now.

EUR/JPY Medium-Term Trend: Bullish

1-Hour Time-frame:

On the lower time frame, the price has been in a consolidation zone after the big move of last week. There is a formation of higher-low and price is respecting the trendline. Price has currently broken the upper trendline and showing momentum, we could see another good run.

Signal Idea:

Buy Limit Order @ 132.10

TP 1 @ 133.15

TP 2 @ 133.56

Stop Loss @ 131.52

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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