EURJPY IS GETTING STRONGE OR WEAK ? DETAILED ANALYSISEURJPY has successfully broken out of the falling wedge pattern, hitting the projected target of 160.000 and delivering significant profits. This breakout confirmed a strong bullish reversal, allowing traders to capitalize on a deep profit opportunity. The falling wedge is a classic bullish pattern, and its breakout was accompanied by increasing momentum, pushing the pair higher in a sustained rally. With price action playing out as expected, traders who entered early have already locked in substantial gains.
From a technical perspective, EURJPY’s bullish structure remains intact, with strong support now forming around the 158.000–159.000 range. If the price consolidates above this level, we could see further upside potential beyond 160.000. However, traders should watch for any retracements or potential resistance at key psychological levels. If bullish momentum continues, the next targets could extend toward 162.000 or higher, depending on market conditions.
Fundamentally, EURJPY’s movement is heavily influenced by central bank policies. The European Central Bank’s (ECB) stance on interest rates, coupled with the Bank of Japan’s (BoJ) continued monetary easing, has contributed to yen weakness and euro strength. Additionally, risk sentiment in the market plays a crucial role—any shift toward a more risk-on environment will likely support further bullish moves in EURJPY. As the pair remains in an uptrend, traders should monitor key economic events and price action signals to maximize their profit potential.
