EURJPY LONG SETUP
EURJPY, price is above the multi-year WEDGE PATTERN, trading within a range between 128.30 as support and 130.70 as resistance, price have been trading in this range since Feburary, which is really constructive consolidation at the verge of breaking above the multi year WEDGE PATTERN.
The price action is looking contsructively bullish, on the 4H chart we've price presurring the resistance of this said range, while making higher lows, to form an ascending triangle which is inidcated on the chart.
A daily close above 130.70 with retest holding will send price higher exposing 133.00 as target and next level of resistance from 2018.
While a push below the ascending triangle will send price lower exposing 128.30 the support of the range.
The price action is looking contsructively bullish, on the 4H chart we've price presurring the resistance of this said range, while making higher lows, to form an ascending triangle which is inidcated on the chart.
A daily close above 130.70 with retest holding will send price higher exposing 133.00 as target and next level of resistance from 2018.
While a push below the ascending triangle will send price lower exposing 128.30 the support of the range.
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