EUR/JPY Poised To Resume Its Upside Journey!
Login

EUR/JPY Poised To Resume Its Upside Journey!

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Olimpiu Tuns

Updated:


EUR/JPY is trading in the green at 129.02 level and it seems determined to take out the immediate resistance levels. The pair is at resistance, so we’ll have to wait for a valid breakout before considering going long.

The bias is still bearish, that’s why we have to wait for confirmation that EUR/JPY will develop an upside reversal. It’s trapped within a down channel pattern which could represent a reversal one. The Japanese Yen could lose more ground versus its rivals if the JP225 (Nikkei) jumps higher after a minor drop.

EUR/JPY Technical Analysis!

EUR/JPY has retested the weekly pivot point (128.59) registering only a false breakdown with great separation through it. It’s pressuring the downtrend line, making a valid breakout above this dynamic resistance could signal further growth.

The pair has retested the lower median line (LML) confirming it. The median line (ML) is seen as a major and strong target. Technically, being rejected by the downtrend line could invalidated the bullish scenario and could send EUR/JPY down.

Conclusion!

A valid breakout through the downtrend line followed by a new higher high could signal a potential further growth!

 

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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • 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
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News