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EUR/JPY Structural Breakout Will Determing the Next TP

By:
Nenad Kerkez
Published: May 6, 2021, 06:54 UTC

The EUR/JPY has formed a structure which look like a bullish wedge, but we need to pay attention to the direction of the breakout.

EUR/JPY

In this article:

The EUR/JPY has formed a structure which look like a bullish wedge, but we need to pay attention to the direction of the breakout.

131.35 breakout should be targeting 131.65 as the first target. Further continuation up, with a positive momentum should target 132.02-132.20 zone. However if something happens and the bullish wedge fails to provide the breakout to the upside watch 130.87 level. Below, a bearish breakout will happen towards the 130.63 and 130.50 zone.

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Cheers and safe trading,

Nenad

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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