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EUR/JPY Potential Upward Movement

EUR/JPY Long-Term Trend: Bullish

Key Resistance Levels: 145.22, 146.28, 146.86

Key Support Levels: 143.82, 143.42, 142.35

Daily Chart:

The price on the higher time frame has been in an uptrend and recently it did a pullback. The pair has found support at the 137.57 level. It has bounced back after testing that area and has broken a level of 141.07 which indicates a bullish bias. 

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 has formed a few rejection wicks and broken the upper range of a consolidation zone at 143.42 It has now also broken and retested a minor level of 143.82 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 144.39

TP 1 @ 145.08

TP 2 @ 146.12

Stop Loss @ 143.70

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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