Breaking News

EUR/JPY Potential Upward Movement

EUR/JPY Long-Term Trend: Bullish

Key Resistance Levels: 132.167, 132.904, 133.160.

Key Support Levels: 131.445, 130.480, 130.156.

Daily Time Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside after finding buyers below the support level around the 131.451 JPY mark. So, the break of the structure shows that there is a potential of a reversal and a move to the upside especially that a bullish engulfing pattern has been posted.

EUR/JPY Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the buyers succeeded to break as well the bearish trendline where the market showed a new trend to the upside. A series of higher highs and lows has been posted. This shows that the buyers are in clear control of the market and might push the price all the way up toward the target profits.

Buy Limit Order @ 131.542

Target Profit 1 @ 132.167

Target Profit 2 @ 132.904

Stop Loss @ 130.920

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!






Free Robot!