ZenTrader111
Long

Breakout of EUR-JPY

FX:EURJPY   Euro / Japanese Yen
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Positive Euro zone data today has strengthened the Bulls, with purchasing manufacturing index for manufacturing, services both better than expected. No Japan data due today, so markets relying on sentiment for now.

The downward trend was broken, with the price action closing over the downward sloping line. At the moment, there is a Bollinger Squeeze in action, with the price closing outside the upper band, indicating a break out to the upside.

Support and resistance are indicated on the chart using historical lows/highs.

BUY, with take profit around 136.720-136.710
If price action moves above 137.720, next target would be 136.950 if uptrend continues.
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