Bullish EURJPY - 26 April 2024 - Technical Analysis

EURUSD Forex

EURJPY

Bullish Closed

A Price Action Ascending Triangle pattern formation on the 1 Day time frame chart supports EURJPY Bullish bias. A break of 166.150 will support the rise towards the target of 167.335 the break of 167.335 would push the price to 168.125.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 166.283
Support S1: 166.256, S2: 166.213 , S3: 166.186
Resistance R1: 166.326 , R2: 166.353 , R3: 166.396

Summary

Instrument :

EURJPY

Direction :

Bullish

Pattern Name :

Ascending Triangle

Probability :

42%

Entry Level :

166.150

Activation Time :

2024-04-25 00:00

Age :

2 Bars

Progress :

100%

Close Time :

2024-04-26 00:00

Time Frame :

1 Day

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

There are no signals right now

Ascending Triangle

An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trend line to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns.