EURJPY LONG SETUP

Price action on EURJPY is looking interesting as price is approaching a zone of interesting, to pick side for the next continuation impulse move or reversal.

Price is still trading inside the multi year WEDGE pattern on the weekly chart, connecting the 2000 low to the 2008 high with several others highs and lows as price continue trading inside the WEDGE pattern all along, now price is in an UPTREND inside the WEDGE pattern, on the daily chart trading above the downtrend line from 2018 high, which we broke above in June 2020 with retest holding and continuation higher price is now trading inside this BULL FLAG, with an head and shoulder which the neck line align with the resistance zone of the BULL FLAG @ 125.00.

With the head and shoulder in place, i think this is going to be a force to eventually push price higher, so i'll be looking out for LONG Set-up with a break above the neckline with retest holding to go long with long term target at 130.00 , stoploss below the right shoulder to give the trade enough time to run.