FX:EURJPY Euro Fx/Japanese Yen
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 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 wave. We'd like to see maintaining an above or near 50 reading, to indicate that the bears are unable to gain any substantial momentum.