The EUR/JPY currency pair is currently showing signs of a potential upward move. This bullish outlook is supported by the formation of a double bottom pattern, a classic technical signal of trend reversal to the upside.
In addition, the development of a swing low indicates that bullish momentum may be building. As long as the price remains above key support levels, the potential for further gains remains strong in the short term.
Recommendation:
- Buy EUR/JPY
- Entry: 170.550
- Take Profit 1: 170.950
- Take Profit 2: 171.350
- Stop Loss: 170.150
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