EURJPY Poised to Resume Upward Movement After Small Correction
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EURJPY Poised to Resume Upward Movement After Small Correction
At the start of the new week, all JPY pairs increased significantly.
The bullish wave was triggered by the Liberal Democratic Party (LDP) of Japan losing its outright majority in the lower house for the first time in 15 years.
Voters punished Prime Minister Shigeru Ishiba's scandal-tainted ruling coalition, leaving no party with a clear mandate to lead the world's fourth-largest economy.
Technical Analysis:
On the 60-minute chart, the price broke out aggressively during the night, reaching 166.07.
So far, it appears to be a normal correction, and the bullish wave may resume soon, with EURJPY potentially rising further to 166.40 and 167.40, as indicated on the chart.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
At the start of the new week, all JPY pairs increased significantly.
The bullish wave was triggered by the Liberal Democratic Party (LDP) of Japan losing its outright majority in the lower house for the first time in 15 years.
Voters punished Prime Minister Shigeru Ishiba's scandal-tainted ruling coalition, leaving no party with a clear mandate to lead the world's fourth-largest economy.
Technical Analysis:
On the 60-minute chart, the price broke out aggressively during the night, reaching 166.07.
So far, it appears to be a normal correction, and the bullish wave may resume soon, with EURJPY potentially rising further to 166.40 and 167.40, as indicated on the chart.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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