Ascending Channel on EUR/JPY

Ascending Channel on EUR/JPY

At the moment the bullish sentiment is prevailing on EUR/JPY. On the M15 timeframe, a pronounced ascending channel was formed. The EUR/JPY quotes have the potential for further growth. The level of 132.900 acts as a local resistance. We recommend you to pay attention to this situation.

If the price is fixed above the mark of 132.900, you need to look for entry points to the market to open long positions. The immediate goal for fixing profits is the "mirror" resistance level of 133.200. The movement is tending to 133.500-133.700. When following the position, we recommend using a trailing stop.

by JustForex, 2017.12.07

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.

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