EUR/JPY Long Term Bullish View
Good morning traders, today we bring you our long-term bullish analysis on the EUR / JPY pair.
🔸As we can see, the price broke the bearish channel.
🔸After that break, there was a consolidation that lasted for a few months.
🔸Last month, we saw a strong bullish break from that correction, which was a confirmation that the previous momentum was continuing.
🔸We believe that the price has the potential to reach the resistance zone at 133,000, about 300 pips away from the current price level.
🔸In case that area is broken, the next level to take into account is the previous high, at 137,000.
🔸Here below we leave the daily chart where you can see the structures with more detail:
🔸As we can see, the price broke the bearish channel.
🔸After that break, there was a consolidation that lasted for a few months.
🔸Last month, we saw a strong bullish break from that correction, which was a confirmation that the previous momentum was continuing.
🔸We believe that the price has the potential to reach the resistance zone at 133,000, about 300 pips away from the current price level.
🔸In case that area is broken, the next level to take into account is the previous high, at 137,000.
🔸Here below we leave the daily chart where you can see the structures with more detail:
Penafian
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