EUR/JPY Breakout Alert – Bullish Reversal in Progress!
Analysis & Description:
This chart of EUR/JPY (JPY timeframe) shows a downtrend channel breakout that could signal a bullish reversal.
Key Observations:
✅ Descending Channel Break: The price has been trending inside a bearish descending channel and is now attempting to break out.
✅ Accumulation Zone: A range-bound consolidation occurred before the breakout attempt, indicating possible smart money accumulation.
✅ Key Resistance Levels:
156.545 (Breakout confirmation level)
158.100 (Next resistance)
159.100 & 160.453 (Potential upside targets)
✅ Bullish Breakout Structure: The price is forming higher highs and higher lows, confirming early bullish momentum.
Trading Plan:
📈 Bullish Bias:
A successful breakout above 156.545 with retest confirmation could provide a buy opportunity targeting 158.100 → 159.100 → 160.453.
⚠️ Bearish Invalidations:
If price fails to hold above 156.545, a rejection may lead to a pullback before the next bullish move.
Final Thought:
EUR/JPY is showing early signs of trend reversal. A strong breakout above 156.545 could trigger a bullish rally toward 160+ levels in the coming sessions. 🚀
This chart of EUR/JPY (JPY timeframe) shows a downtrend channel breakout that could signal a bullish reversal.
Key Observations:
✅ Descending Channel Break: The price has been trending inside a bearish descending channel and is now attempting to break out.
✅ Accumulation Zone: A range-bound consolidation occurred before the breakout attempt, indicating possible smart money accumulation.
✅ Key Resistance Levels:
156.545 (Breakout confirmation level)
158.100 (Next resistance)
159.100 & 160.453 (Potential upside targets)
✅ Bullish Breakout Structure: The price is forming higher highs and higher lows, confirming early bullish momentum.
Trading Plan:
📈 Bullish Bias:
A successful breakout above 156.545 with retest confirmation could provide a buy opportunity targeting 158.100 → 159.100 → 160.453.
⚠️ Bearish Invalidations:
If price fails to hold above 156.545, a rejection may lead to a pullback before the next bullish move.
Final Thought:
EUR/JPY is showing early signs of trend reversal. A strong breakout above 156.545 could trigger a bullish rally toward 160+ levels in the coming sessions. 🚀
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.
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.