EURJPY Breakout Descending channel pattern bullish from support
📈 EUR/JPY – Bullish Breakout in Progress (1H Timeframe)
🔍 Technical Outlook: EUR/JPY has broken out of an descending channel to the upside, confirming bullish momentum on the 1-hour chart. The breakout occurred from a key support zone at 171.000, signaling continued strength in the trend.
💼 Buy Setup:
Entry Zone: 171.000 (Breakout and retest level)
Trend Structure: Bullish breakout above channel resistance
Support: 171.000 – Holding as key structure support post-breakout
🎯 Upside Targets (Resistance Levels):
172.300: Immediate resistance – short-term profit target
173.600: Major resistance zone – extended bullish target
📌 Technical Highlights:
Clean breakout from descending channel
Support holding at 171.000 confirms trend continuation
Strong momentum on breakout volume
⚠️ Invalidation Level:
A sustained drop below 171.000 would invalidate the breakout and suggest a potential return inside the channel.
📈 Forecast Summary: EUR/JPY continues to favor the bulls after a confirmed breakout from the descending channel. As long as price holds above 171.000, upside targets remain in focus at 172.300 and 173.600.
🔐 Risk Management Reminder: Use proper SL placement and manage risk based on your trading plan. Look for confirmation on retest if not already in position.
🔍 Technical Outlook: EUR/JPY has broken out of an descending channel to the upside, confirming bullish momentum on the 1-hour chart. The breakout occurred from a key support zone at 171.000, signaling continued strength in the trend.
💼 Buy Setup:
Entry Zone: 171.000 (Breakout and retest level)
Trend Structure: Bullish breakout above channel resistance
Support: 171.000 – Holding as key structure support post-breakout
🎯 Upside Targets (Resistance Levels):
172.300: Immediate resistance – short-term profit target
173.600: Major resistance zone – extended bullish target
📌 Technical Highlights:
Clean breakout from descending channel
Support holding at 171.000 confirms trend continuation
Strong momentum on breakout volume
⚠️ Invalidation Level:
A sustained drop below 171.000 would invalidate the breakout and suggest a potential return inside the channel.
📈 Forecast Summary: EUR/JPY continues to favor the bulls after a confirmed breakout from the descending channel. As long as price holds above 171.000, upside targets remain in focus at 172.300 and 173.600.
🔐 Risk Management Reminder: Use proper SL placement and manage risk based on your trading plan. Look for confirmation on retest if not already in position.
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Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.