EUR/JPY Potential Upward Movement

EUR/JPY Long-Term Trend: Bullish

Key Resistance Levels: 162.152, 163.015, 164.398

Key Support Levels: 160.025, 159.352, 158.309

Daily Chart:

The price on the higher time frame has recently been in an uptrend. It bounced back after testing a major support level of 155.599 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 trendline around a support level and has sustained above that. As of now the pair has broken and retested a minor level of 160.025 before continuing the momentum.

Signal Idea:

Buy Market Order @ 160.888

TP @ 162.034

Stop Loss @ 159.741

Trade Safely 🙂