The EUR/JPY pair breaks above the resistance presented by a long-term trend line but with the big obstacle represented by a price congestion level at the €129.2 price level, a level last seen at the end of 2019.
Above the current price, the first resistance level is at the €129.21 price level, then the second at €130.19 and the third at €131.97.
Below the current price, the first support level is at €128.90, then the second one at €128.21 and the third one at €127.57.
The WT_LB indicator penetrates the overbought zone, limiting the upside potential of the EUR/JPY pair. A bullish sideways consolidation scenario is likely in the coming sessions.
Above the current price, the first resistance level is at the €129.21 price level, then the second at €130.19 and the third at €131.97.
Below the current price, the first support level is at €128.90, then the second one at €128.21 and the third one at €127.57.
The WT_LB indicator penetrates the overbought zone, limiting the upside potential of the EUR/JPY pair. A bullish sideways consolidation scenario is likely in the coming sessions.