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EUR/JPY Potential Upward Movement

EUR/JPY Long-Term Trend: Bullish

Key Resistance Levels: 139.02, 139.83, 140.34

Key Support Levels: 137.54, 136.63, 135.75

Daily Chart:

The price on the higher time frame has been in an uptrend for the last few weeks. The price was rejected from the downside after finding buyers below the 127.92 level. There is good momentum in the trend and the price has broken the resistance level of 137.26 which indicates a bullish trend. 

EUR/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price was trading in a range between 137.54 and 136.63 and recently the pair has broken the upper range. The price is now continuing the momentum after doing a retest of the 137.54 level. 

Signal Idea:

Buy Stop Order @ 138.24

TP 1 @ 139.05

TP 2 @ 139.86

Stop Loss @ 137.43

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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