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EUR/JPY Potential Upward Movement

EUR/JPY Price Long-Term: Bullish

Key Resistance Levels: 129.75, 131.00, 132.75

Key Support Levels: 128.26, 127.1, 126.45

Daily Chart:

On the daily time frame, the price is in an uptrend by posting higher highs and lows. The price managed to break the daily resistance @ 128.26 level, and now retested it by showing a correction count.

EUR/JPY Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price posted a correction count toward a confluence zone between the daily support, the trendline and a 61.8% Fibonacci retracement level @ 128.26 mark. This might lead to a move upward to the 129.14 level.

Signal Idea:

Buy Limit Order @ 128.26

TP 1 @ 129.14

TP 2 @ 129.75

Stop Loss @ 127.83

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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