The EUR/JPY is trading with a bullish bias at 126.285 level, holding mostly over the triple top resistance become support level of 126.169 level. Continuation of a selling trade can extend bullish bias until the 126.560 mark. The pair is also gaining support amid 10 & 20 periods EMA supporting bullish trend continuation in the market. The MACD and RSI are supporting an upward momentum in the EUR/JPY pair. On the hourly chart, we can see the pair has closed bullish engulfing, which may help support the EUR/JPY pair’s buying trend. Check out a trading plan below:
Entry Price – Sell 126.274
Stop Loss – 125.874
Take Profit – 126.674
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
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