EURJPY (H4) – Bullish Channel Retest in Focus
Description:
EURJPY remains in a strong bullish structure after a significant impulsive recovery from the 184.00 demand area. Price continues to trade within an ascending channel, forming higher highs and higher lows, which confirms sustained buying interest on the H4 timeframe.
The recent pullback appears to be a healthy correction rather than a trend reversal. Price is approaching the channel support zone, where buyers may look to re-enter the market and continue the broader uptrend. As long as the ascending structure remains intact, bullish momentum is expected to resume.
A successful reaction from support could drive EURJPY toward the 186.64 resistance area, which aligns with the upper boundary of the rising channel and represents the next key upside objective.
🎯 Targets:
• 1st Target: 186.30
• 2nd Target: 186.64
⚠️ Invalidation:
A decisive break and close below the channel support would weaken the bullish outlook and suggest a deeper corrective move.
📈 Bias: Bullish 🟢
Description:
EURJPY remains in a strong bullish structure after a significant impulsive recovery from the 184.00 demand area. Price continues to trade within an ascending channel, forming higher highs and higher lows, which confirms sustained buying interest on the H4 timeframe.
The recent pullback appears to be a healthy correction rather than a trend reversal. Price is approaching the channel support zone, where buyers may look to re-enter the market and continue the broader uptrend. As long as the ascending structure remains intact, bullish momentum is expected to resume.
A successful reaction from support could drive EURJPY toward the 186.64 resistance area, which aligns with the upper boundary of the rising channel and represents the next key upside objective.
🎯 Targets:
• 1st Target: 186.30
• 2nd Target: 186.64
⚠️ Invalidation:
A decisive break and close below the channel support would weaken the bullish outlook and suggest a deeper corrective move.
📈 Bias: Bullish 🟢
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.