Medium term forecast for the EUR/JPY pair using technical analys

The asset made a trend change on 04/16/2024 with notable volume, after which it tested the POC several times before the distribution process, when making a touch with an attempted breakout, it quickly returned to its trend with volume, after which it seems to have consolidated and will begin the distribution process.

We must pay attention to IPC tomorrow, if you have not yet reached the target, define SL and operate while protecting capital.

What is your opinion?


TP1: 165.022
TP2: 165.261
SL: 164.112

Comment:

As the closing did not see much movement in the asset, it sets the RDH for the day as the target.

New TP1: 165,000

Trade closed manually:

If the price reaches 164,800 again and does not break with volume, close the order there to emerge victorious.

TP1: 164,800