EUR/JPY Long-Term Trend: Bullish
Key Resistance Levels: 133.88, 134.44, 135.00
Key Support Levels: 133.06, 132.03, 131.65
The price on the daily time frame is traded inside a bullish ascending wedge by posting higher highs and lows. Recently, it managed to break the 133.06 USD level, and retrace to it. Further upside is expected to be seen in the same direction of the main trend.
EUR/JPY Medium-Term Trend: Bullish
On the lower time frame, the price is trading inside a bullish flag formation where it retraced to the strong support and the 61.80% Fibonacci retracement level. This could lead to a movement to the upside toward our target profit.
Buy Limit Order @ 133.07
TP 1 @ 133.87
TP 2 @ 134.44
Stop Loss @ 132.75
Trade Safely 🙂