EURJPY continues to respect its ascending channel on the 4H timeframe recently bouncing strongly from the lower boundary near 163.30This move forms a clean ABCD pattern with the current leg showing bullish continuation potential If momentum holds the pair could target the 166.50 zone and possibly extend to the psychological level at 168.00
Key Technicals
Price remains supported above the channel trendline
Strong bullish breakout above 164.00 resistance
Short-term pullback could offer a better entry before continuation
Targets to watch
Immediate resistance 166.50
Final psychological target 168.00
Support 163.30 – key for maintaining the bullish bias
This setup favors bulls while price stays inside the rising channel A clean break above 166.50 may trigger the next leg up
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.