EURJPY → Buyer strength will lead to a continuation of the trend

EURJPY is in an uptrend phase. Regarding what is happening on the chart, we can assume that the bullish trend will continue in the medium term.

The market is redeeming the strong drop that happened at the end of 2023 on the fundamental background in a few months. The Japanese Yen is weakening strongly on the back of weak regulation by the Central Bank of Japan. There is a high probability that the mentioned resistance will be broken in order to further strengthen the trend.

Resistance levels: 164.9, 165.4
Support levels: MA-50, 163.9

The ascending triangle demonstrates the buying power in the market, the fundamental background confirms it. A break of the triangle resistance will be a trigger to buy.

Regards R. Linda!

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Consolidation continues

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Kommentera:

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Price updates the high to 165.75

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Price is updating highs and will continue to rise

Trade stängt: målet nått:

Interim target of 166.0 reached

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The goal has been practically achieved
+200 pips at the moment

Trade stängt: målet nått