Since mid-March, EURJPY has been in a consolidation phase. Except for the early April spike down, the pair has respected a pretty clear range between the 161.00 support and the 163.30 resistance.
Now, however, EURJPY looks ready to break to the upside. A sustained price above 163.30 would confirm this breakout and open the door for bullish momentum.
🔍 My strategy:
I’m looking to buy dips, ideally around the 162.50 area.
If the price drops and breaks below 161, that would invalidate the setup.
On the upside, the first major target is the 166.00 resistance zone.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Now, however, EURJPY looks ready to break to the upside. A sustained price above 163.30 would confirm this breakout and open the door for bullish momentum.
🔍 My strategy:
I’m looking to buy dips, ideally around the 162.50 area.
If the price drops and breaks below 161, that would invalidate the setup.
On the upside, the first major target is the 166.00 resistance zone.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.