Currently, EUR/JPY is in a bearish trend on the 1-hour timeframe, forming lower highs and lower lows. The pair is currently taking support at a major support level.
If EUR/JPY reverses from this point without breaking the previous low of 158.977, and then gives a breakout above 161.143, we will consider entering a long position.
The stop-loss will be placed at 158.123, with targets set at 162.172 and 163.287.
If EUR/JPY reverses from this point without breaking the previous low of 158.977, and then gives a breakout above 161.143, we will consider entering a long position.
The stop-loss will be placed at 158.123, with targets set at 162.172 and 163.287.
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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.