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 🙂