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EUR/JPY Potential Upward Movement

EUR/JPY Long-Term Trend: Bullish

Key Resistance Levels: 130.85, 131.93, 133.19

Key Support Levels: 128.86, 127.96, 126.68  

Daily Time-frame:

The price on the higher time frame has shown good momentum to the upside. The price did a sharp reversal after facing rejection from the downside. The price could find support at the 129.07 level and should continue the bullish momentum.

EUR/JPY Medium-Term Trend: Bullish

1-Hour Time-frame:

On the lower time frame, the price is moving in the major trend’s direction. The price has broken a resistance level of 129.58 and then continued momentum. We expect a retest and the pair should find support at the trendline.

Signal Idea:

Buy Limit Order @ 129.75

TP 1 @ 130.56

TP 2 @ 131.40

Stop Loss @ 128.94

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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