SamKent
Long

EUR/JPY Breakout, Waiting for Pullback

FX:EURJPY   Euro Fx/Japanese Yen
107 0 1
The EUR/JPY             has broken out from its trading range, breaking the 147.380 resistance line. If we look at price action, we can see the bullish moves are gaining in firepower. We'd like to buy the pair on a pullback back to the 147.380 line to act as a role-reversal level and support a major bull wave. We'd like to see RSI maintaining an above or near 50 reading, to indicate that the bears are unable to gain any substantial momentum.
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