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EUR/JPY Potential Upward Movement

EUR/JPY Long-Term Trend: Bullish

Key Resistance Levels: 132.14, 133.15, 136.63

Key Support Levels: 130.97, 130.66, 129.22

Daily Chart:

The price on the higher time frame succeeded to break the strong resistance around the 132.14 USD mark by posting higher highs and lows. A correction count has been posted where we expect further movement to the upside.

EUR/JPY Medium-Term Trend: Bullish

1-hour Chart:

On the lower time frame the price succeeded to break the wedge formation to the upside. Currently, the price is stuck above a relevant where we could see it rallying again toward the target profit.

Signal Idea:

Buy Limit Order @ 131.48

TP 1 @ 132.06

TP 2 @ 133.15

Stop Loss @ 131.19

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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