RLinda ! EURJPY-> is expected to breakout. What is the target?

15 Sep 2022

EURJPY. The Japanese Yen continues to weaken. On the chart we can see an accelerated growth after breaking through the resistance of the uptrend channel. After breaking through and testing 144.2 resistance, the price forms a technical pullback to test the previously broken resistance of the channel.

On the daily chart we see that the price is in a certain range and makes a retest to the resistance 144.23. From the technical point of view, the growth rate of the currency pair has increased, which probably presages a break-up of the resistance and continuing strengthening of the Euro.

I believe that the price can break through the resistance 144.23, and the next target for it will be the far level of 149.5, behind which there is a large volume of liquidity, and it will play a decisive role.

Regards to R. Linda!