EUR/JPY: upside reversal

Important Update for RobotFX Visitors

We want to sincerely apologize for any confusion or inconvenience caused by our recent website restructuring.

The main RobotFX hub has officially moved to our new, streamlined address at robotfx.org (without the "www" prefix). While our main operations have shifted, we want to reassure you that this archives site, old.robotfx.org, will remain fully active. You can still access our complete library of past posts, historical trading analysis, and legacy articles right here.

However, for the latest updates, newer content, and a significantly faster, more optimized browsing experience, we highly recommend heading over to our primary home at https://robotfx.org.

Thank you so much for your continued support and patience as we improve our digital services.

EUR/JPY Ignored Downtrend Line!

The EUR/JPY pair tested and retested the 138.34 level and now it has managed to jump far above the downtrend line and above the 139.11 former high. The downtrend line represented an upside obstacle. Passing above it may signal further growth.

The 138.34 former high represented an upside obstacle as well. Jumping and stabilizing above it confirmed strong buyers and potential larger growth. Now, this level represents a downside obstacle.

EUR/JPY Trading Conclusion!

The aggressive breakout through the downtrend line and above 139.11 indicates strong upside pressure and a potential upside reversal. This was seen also as a buying opportunity. EUR/JPY could approach and reach new highs as long as it stays above 138.34 and above the broken downtrend line.

Trading analysis offered by Flex EA.
Source