EUR/JPY Continuation Pattern!

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


EUR/JPY dropped a little in the short term, but the current retreat is only a temporary one. It has slipped lower within a minor flag, a down channel. It’s located at the 132.44 level at the time of writing above 132.15 today’s low. The bias is still bullish, so the pair could jump higher anytime again.

The Japanese Yen has been strongly bearish lately as the Nikkei (JP225) has resumed its growth. The index has found temporary resistance and now it has slipped lower. JP225’s further growth could signal that the JPY could resume its depreciation.

EUR/JPY Technical Analysis!

EUR/JPY dropped after failing to reach the ascending pitchfork’s upper median line (UML). Also, it has failed to stay above 132.51 static resistance. Still, the retreat, correction could be only a temporary one.

Making a valid breakout from the down channel confirms this pattern as a continuation one. Closing and stabilizing above 132.54 level and registering a new higher high could activate further growth.

Conclusion!

A new higher high, a bullish closure above 132.68 level could signal potential growth at least until the upper median line (UML). Failing to come back down towards the weekly pivot point of 131.64 may announce an upside movement towards the R1 (133.59).

 

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.