💱EURJPY - Breaking through resistance offers new potential
EURJPY is forming a flat. The wide range allows to accumulate enough liquidity before a further surge in the impulse format.
TA on the high timeframe:
1) False break of support 154 forms a strong momentum that breaks several local resistances
2) Price passes the key liquidity area of 155-156 and aims for 158
TA on the low timeframe:
1) A break of 156.789 gives new potential for the price
2) Locally we have a bullish trend. Consolidation above 156.789 will give a good entry point for buying.
3) In terms of outlook, I expect growth from 156.789 to the nearest liquidity zone
Key support📉: 156.789
Key resistance📈: 157.93
TA on the high timeframe:
1) False break of support 154 forms a strong momentum that breaks several local resistances
2) Price passes the key liquidity area of 155-156 and aims for 158
TA on the low timeframe:
1) A break of 156.789 gives new potential for the price
2) Locally we have a bullish trend. Consolidation above 156.789 will give a good entry point for buying.
3) In terms of outlook, I expect growth from 156.789 to the nearest liquidity zone
Key support📉: 156.789
Key resistance📈: 157.93
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