EUR/JPY Bullish Configuration Spotted on H4 Time Frame

>> The EUR/JPY formed an ascending trend line along with the inverted SHS pattern. A close above the M H3 camarilla pivot suggests a further bullish pressure. <<

A close above 130.65 is needed in order for the EUR/JPY to proceed further up. Inverted SHS pattern implies a continuation move towards 132.02 and 132.34 targets.  Recent reports have indicated that the Bank of Japan (BOJ) may re-adjust their policy settings at their next meeting might weigh somehow on the JPY so the EUR/JPY could fundamentally go up too. Technically, we need a close above 130.65 that is the signal for a long trade.

EUR/JPY Bullish Configuration Spotted on H4 Time Frame

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Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.