Good morning traders, today we bring you a long-term analysis on the EUR/JPY, since it made an important breakout that we have been waiting for a long time.
🔸After the break of the bearish channel and the resistance zone, the price consolidated for several weeks with no clear direction.
🔸Apparently, this corrective process is over, as we are witnessing a bullish breakout.
🔸This is an important event, as it gives us a very strong bullish scenario towards the next resistance zone, at 133,000.
🔸During the next few weeks or months it is very likely that the price will be in an impulsive phase.
🔸After the break of the bearish channel and the resistance zone, the price consolidated for several weeks with no clear direction.
🔸Apparently, this corrective process is over, as we are witnessing a bullish breakout.
🔸This is an important event, as it gives us a very strong bullish scenario towards the next resistance zone, at 133,000.
🔸During the next few weeks or months it is very likely that the price will be in an impulsive phase.