EUR/JPY Long-Term Trend: Bullish
Key Resistance Levels: 139.89, 141.12, 141.83
Key Support Levels: 138.41, 137.83, 136.78
The price on the higher time frame has been in an uptrend for the last few months and recently it consolidated between a range of 133.14 and 137.47 for some time. The upper range has been broken now and there is a higher high formation which shows a bullish bias.
EUR/JPY Medium-Term Trend: Bullish
On the lower time frame, the pair is moving in the major trend’s direction. The price broke a resistance level of 136.78 with good momentum and recently it has broken a minor level of 138.41 and retested that zone before continuing the momentum.
Buy Stop Order @ 139.01
TP 1 @ 139.82
TP 2 @ 141.04
Stop Loss @ 138.20
Trade Safely 🙂