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EUR/JPY Potential Upward Movement

EUR/JPY Long-Term Trend: Bullish

Key Resistance Levels: 161.704, 162.203, 162.859

Key Support Levels: 160.857, 160.282, 159.493

Daily Chart:

The price on the higher time frame has recently been in an uptrend after it tested a major support level of 155.205 and bounced back. The pair has continued to break a few resistance levels which suggests further trend continuation.

EUR/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It recently broke a consolidation zone of 159.493 and 160.282 and has sustained above that. As of now the pair has broken and retested a minor level of 160.857 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 161.170

TP @ 161.634

Stop Loss @ 160.676

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.

One comment

  1. Thanks for your signals

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