💱EURJPY - Breaking through resistance offers new potential

١٩ يوليو ٢٠٢٣

EURJPY is forming a flat. The wide range allows to accumulate enough liquidity before a further surge in the impulse format.

TA on the high timeframe:
1) False break of support 154 forms a strong momentum that breaks several local resistances
2) Price passes the key liquidity area of 155-156 and aims for 158

TA on the low timeframe:
1) A break of 156.789 gives new potential for the price
2) Locally we have a bullish trend. Consolidation above 156.789 will give a good entry point for buying.
3) In terms of outlook, I expect growth from 156.789 to the nearest liquidity zone

Key support📉: 156.789
Key resistance📈: 157.93