EUR/JPY Potential Upward Movement

EUR/JPY Long-Term Trend: Bullish

Key Resistance Levels: 160.502, 161.121, 161.920

Key Support Levels: 157.872, 156.239, 155.961

Daily Chart:

The price on the higher time frame has recently been in an uptrend after it tested a support level of 155.961 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 broke a key level of 157.872 and has sustained above that. As of now it has broken and retested a resistance zone before continuing the momentum. 

Signal Idea:

Buy Limit Order @ 159.064

TP @ 160.112

Stop Loss @ 157.777

Trade Safely 🙂