Here we are on Euro/Yen
weekly chart and as we can see this market is in bullish trend
and as we discussed in our previous analysis that this market was being in range bounded area for long period and now market has been clearly broken upside. On weekly chart price action is telling us the story of bulls as on last week closing they manage to false break that range resistance which is now acting as new support 134.40 forming long tailed pin bar
. we have good confluence factors supporting our trade scenario such as Bullish trend
dynamic support layer, horizontal (static) support and tailed bar buy signal itself. we will be getting in long from the near by level. safe trading!