Bullish Momentum in Focus!
Trading on the Euro Yen has been on a bullish trend, with some market consolidation due to the over-extended movement. To take advantage of this trend, we recommend buying at support and selling at resistance, which can potentially produce a profit potential of 170pips on the 4-hourly chart.
On the daily chart, we have just broken the very aggressive and trending bullish trend line, but there are other trend lines that can offer a buying opportunity. However, we suggest waiting for a selling opportunity at 158.49 and a buying opportunity at 156.79 on the 4-hour chart, where there is a precise entry point for a bullish run.
With an initial stop-loss at 156.33 and the first target at 157.35, this trade can be engaged on the 1-hourly chart at 156.82. It is important to note that this is not trading advice, and investors should do their own analysis and not follow blindly.
On the daily chart, we have just broken the very aggressive and trending bullish trend line, but there are other trend lines that can offer a buying opportunity. However, we suggest waiting for a selling opportunity at 158.49 and a buying opportunity at 156.79 on the 4-hour chart, where there is a precise entry point for a bullish run.
With an initial stop-loss at 156.33 and the first target at 157.35, this trade can be engaged on the 1-hourly chart at 156.82. It is important to note that this is not trading advice, and investors should do their own analysis and not follow blindly.
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