Ascending Channel on EUR/JPY

Ascending Channel on EUR/JPY

Last week the EUR/JPY currency pair retained a round level of 124.000, which caused the bullish sentiment. At the moment, a pronounced ascending channel has been formed in the trading instrument. The growth of the EUR/JPY quotes may continue. It is necessary to pay attention to this situation.

If the price overcomes and fixes above the local resistance of 124.900, we recommend looking for entry points to the market in order to open long positions. The movement is tending potentially to 125.250-125.600.

View trading ideas by the Price Action method.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.