📈 Ready for a Strong Rally? 📈
🧠 Technical Breakout: EUR/JPY has formed a Bullish Triangle pattern on the 10H chart — a powerful continuation signal. The price has been consolidating within the triangle, with the upper resistance (descending trendline) and lower support line converging. A breakout above the triangle is imminent, signaling a potential bullish surge!
📍 Key Insights:
◾ Pattern: Bullish Triangle – classic continuation setup.
◾ Support Line: Holding firm at 161.703, acting as a springboard for buyers.
◾ Breakout Zone: Price nearing the upper trendline — watch for a strong close above.
◾ Target Zone: 175.00 — aiming for the next major resistance area.
🎯 Trade Setup:
🔴 Entry: 163.00 (on breakout confirmation above the triangle)
🟢 Stop Loss: 156.00 (below the triangle support for safety)
🎯 Target: 175.00 — key resistance and take-profit zone
⚠ Pro Tip: Wait for a strong breakout candle with high volume to confirm the move — avoid entering on a false break!
🔥 Final Thoughts: EUR/JPY is gearing up for a bullish breakout from this triangle pattern. If the breakout confirms, 175.00 could be in sight quickly. Stay alert and manage your risk!
🧠 Technical Breakout: EUR/JPY has formed a Bullish Triangle pattern on the 10H chart — a powerful continuation signal. The price has been consolidating within the triangle, with the upper resistance (descending trendline) and lower support line converging. A breakout above the triangle is imminent, signaling a potential bullish surge!
📍 Key Insights:
◾ Pattern: Bullish Triangle – classic continuation setup.
◾ Support Line: Holding firm at 161.703, acting as a springboard for buyers.
◾ Breakout Zone: Price nearing the upper trendline — watch for a strong close above.
◾ Target Zone: 175.00 — aiming for the next major resistance area.
🎯 Trade Setup:
🔴 Entry: 163.00 (on breakout confirmation above the triangle)
🟢 Stop Loss: 156.00 (below the triangle support for safety)
🎯 Target: 175.00 — key resistance and take-profit zone
⚠ Pro Tip: Wait for a strong breakout candle with high volume to confirm the move — avoid entering on a false break!
🔥 Final Thoughts: EUR/JPY is gearing up for a bullish breakout from this triangle pattern. If the breakout confirms, 175.00 could be in sight quickly. Stay alert and manage your risk!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.