EUR/JPY Long-Term Trend: Bullish
Key Resistance Levels: 132.37, 132.65, 133.00
Key Support Levels: 131.44, 130.95, 130.50
The price on the higher time frame posted an engulfing bullish pattern and started to move higher. A lower correction has been posted to the 50% Fibonacci retracement level where the pair found buyers and this could lead to a move upward.
EUR/JPY Medium-Term Trend: Bullish
On the lower time frame the price succeeded to break the bearish channel formation to the upside after posting a double bottom pattern. The price moved higher where we expect a lower correction to the highlighted zone before a rally to the target profit.
Buy Limit Order @ 131.78
TP 1 @ 132.11
TP 2 @ 132.37
Stop Loss @ 131.66
Trade Safely 🙂