EUR/JPY Potential Upward Movement

EUR/JPY Long-Term Trend: Bullish

Key Resistance Levels: 164.593, 166.108, 168.303

Key Support Levels: 162.757, 160.321, 155.601

Daily Chart:

The price on the higher time frame has recently been in an uptrend after it tested a support level of 155.601 and bounced back. The pair has continued to break a few resistance levels which suggests further trend continuation.

EUR/JPY Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 155.601 and 160.321 and has sustained above that. As of now the pair has broken and retested a minor level of 162.757 before continuing the momentum. 

Signal Idea:

Buy Limit Order @ 163.259

TP @ 164.523

Stop Loss @ 161.832

Trade Safely 🙂