EUR/JPY breaks consolidation with rising vols, to test 200-DMA
EUR/JPY has broken out of consolidation phase with rising volumes.
Momentum studies are bullish, we see scope for test of 200-DMA at 118.78.
Bullish invalidation only below 20-DMA at 115.36, violation there could see test of 112.30 levels.
Major support levels - 117 (1H 20-SMA), 116.86 (5-DMA), 116, 115.36 (20-DMA)
Major resistance levels - 117.92 (July 20 high), 118.40 (July 15 high), 118.78 (200-DMA)
Good to go long on dips around 117, SL: 116.25, TP: 117.40/ 117.90/ 118.40/ 118.75
Momentum studies are bullish, we see scope for test of 200-DMA at 118.78.
Bullish invalidation only below 20-DMA at 115.36, violation there could see test of 112.30 levels.
Major support levels - 117 (1H 20-SMA), 116.86 (5-DMA), 116, 115.36 (20-DMA)
Major resistance levels - 117.92 (July 20 high), 118.40 (July 15 high), 118.78 (200-DMA)
Good to go long on dips around 117, SL: 116.25, TP: 117.40/ 117.90/ 118.40/ 118.75
Comment:
TP2 hit
Comment:
EUR/JPY breaks 200-DMA.
All targets hit
All targets hit
TP1 hit. Bias higher, stay long.