EURJPY bullish continuation in play

EURJPY bullish continuation in play

The EURJPY is trading in a bullish structure and has now pulled back to a previous key level which confluences with the 50% retracement of the entire bullish move.

Hidden bullish divergence detected.

Should price break with the short term structure and the highs of the no-trade-zone (126.10-126.40 range) a bullish continuation is in play to retest the previous highs around the 127.25 level. This level confluences with big bullish targets:
The 1.618 of the first bullish leg of the entire move and the 2.618 of the pattern.

 

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Author : Orlando Gutierrez

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