The EUR/JPY currency pair is currently showing strong potential for further gains. This bullish outlook is supported by an upward-sloping trendline, indicating continued buying pressure in the market.
Additionally, the formation of a double bottom pattern adds to the bullish scenario. This classic reversal signal often marks the shift from a downtrend to an uptrend and supports the idea of continued upward movement.
As long as price holds above key support levels, the possibility of further upside remains valid.
Recommendation:
- Buy EUR/JPY
- Entry: 172.160
- Take Profit 1: 172.560
- Take Profit 2: 172.960
- Stop Loss: 171.760
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