EURJPY has been in a bullish trend with the formation of higher highs and higher lows. Right now, resting at the support level of 160.80, I am looking to go long on the pair till the resistance level. The price action will depict the move upwards once it starts to print bullish candles.

At the support level, I anticipate the confluence of the ascending trendline retest which will have an additional confirmation.

There is no retracement on this pair as the impulse move is minute.

EMA 50 is bullish and along with the confluence of EMA 50 and trendline, we might see the push up.

RSI is at 62. It needs to be neutralized at the 50 level in order to align with the technical factors.

EURJPY buys from 160.80

Jan 19 2024

Stop Loss -0.33%

Holding time 1d18hr

160.772

Entry price

160.243

Stop loss price