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

Apr 22

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!

Apr 22

Trade active

Consolidation continues

Apr 23

Trade active

Apr 23

Note

Apr 23

Trade active

Price updates the high to 165.75

Apr 24

Trade active

Price is updating highs and will continue to rise

Apr 24

Trade closed: target reached

Interim target of 166.0 reached

Apr 25

Trade active

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

Apr 25

Trade closed: target reached