EURJPY is a resistance is at 150. If market breaks this resistance level, we will wait for the retest to hop on to the buy position till the next resistance priced at 151. Apart from this, we see the trend as bullish with the formation of higher highs and higher lows. 

The ascending trendline is far from being tested. Therefore, we do not think that the trendline will be retested to further fuel up.

There is no retracement level on this pair.

EMA 50 is bullish and is steeped upwards, depicting a bullish bias and direction.

RSI is at 62. It needs to neutralize at the 50 level in order for the market to continue moving up.

Breakout buy and retest on EURJPY

May 25 2023

Stop Loss -0.48%

Holding time 5d11hr

150.098

Entry price

149.377

Stop loss price