L3wis
Long

EUR/JPY at Key Levels

FX:EURJPY   Euro / Japanese Yen
Previously we have seen an inverted head & Shoulder pattern on this pair, this has now been confirmed and the neckline/resistance barrier of 132.00 has now held and been successfully broken and is currently trading at 132.362. I am expecting a slight pullback to 132.000 before making a push higher towards the 133.000 resistance level .

Reasons for this long trade:

Daily chart Head and shoulder pattern inverted.
Daily clean break & closure above 132.000
Price is holding above 132.00 and has tapped the high of 132.500
8 MA crossover with the 21 MA
Price is trading above the 200 EMA which shows bullish momentum and a new direction.

Any comments, questions welcome :)
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