EUR/JPY Long-Term Trend: Bullish
Key Resistance Levels: 145.22, 146.28, 146.86
Key Support Levels: 143.82, 143.42, 142.35
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
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.
Buy Stop Order @ 144.39
TP 1 @ 145.08
TP 2 @ 146.12
Stop Loss @ 143.70
Trade Safely 🙂