EUR/JPY Price Long-Term: Bullish
Key Resistance Levels: 129.60, 129.75, 130.00
Key Support Levels: 128.26, 127.11, 126.12
On the daily time frame, the price is in a strong upward movement where it is traded inside a bullish channel formation. The price posted a correction count to the 61.8% Fibonacci retracement, and this gave the opportunity for the buyers to jump in.
EUR/JPY Medium-Term Trend: Bullish
On the 4-hr time frame, the price is trading within a bullish flag formation where the price might be pushed to a confluence area between the support and the 61.8% Fibonacci retracement which might lead to a move upward to the 129.45 level.
Buy Limit Order @ 128.79
TP 1 @ 129.45
TP 2 @ 129.60
Stop Loss @ 128.47
Trade Safely 🙂