EURJPY Confirmed Pennant Pattern Breakout

Long Opportunity

Price has made a Breakout of the Falling Resistance of the Pennant Pattern it has been forming the past couple of weeks.

The Breakout meets all the requirements needed to be validated as a True Breakout!

With Price trading above the 200 EMA, this adds more confirmation that the Bulls are in-control and we can reasonably expect to see price move to the Upside.

At the Start of the Following Hour ( 09:00 CST ), I will enter a Long Position on with my SL below the Retest of the Break!

Trade active

Long Positioned Opened @ 09:00 CST
Entry @ 162.636
SL @162.29

Note

Bulls are finding Support @ the 23.6% Fib Level

Note

Another Long Opportunity for if Bulls can push past the Resistance @ 163

Note

Bulls were able to push through the 163 Resistance Level and Close!

Price now is showing support from this level with excellent Bullish Volume therefore I have added Long Positions!

Long Entry @ 163
SL @ 162.83
TP @ 164

Trade closed manually

With the Positive results for Toyko Core CPI, ( 2.4% Actual, 2.2% Previous ) we see JPY gain some strength and with this, some choppy price action.

So to secure what profits have been made, I'll be closing all Long entries now!

Novi_Fibonacci

"An investment in knowledge will pay the best interest." - B. Franklin

Novi's Trading Channel
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