EURJPY → Buyer strength will lead to a continuation of the trend
Updated
EURJPY is in an uptrend phase. Regarding what is happening on the chart, we can assume that the bullish trend will continue in the medium term. The market is redeeming the strong drop that happened at the end of 2023 on the fundamental background in a few months. The Japanese Yen is weakening strongly on the back of weak regulation by the Central Bank of Japan. There is a high probability that the mentioned resistance will be broken in order to further strengthen the trend.
Resistance levels: 164.9, 165.4
Support levels: MA-50, 163.9
The ascending triangle demonstrates the buying power in the market, the fundamental background confirms it. A break of the triangle resistance will be a trigger to buy.
Regards R. Linda!
Trade active
Consolidation continuesTrade active
Comment
Trade active
Price updates the high to 165.75Trade active
Price is updating highs and will continue to riseTrade closed: target reached
Interim target of 166.0 reachedTrade active
The goal has been practically achieved +200 pips at the moment
Trade closed: target reached
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NO‼️
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