EUR/JPY is at Important Confluence Zone
September 7, 2021
Dear traders,
The EUR/JPY is very close to making a breakout move. We can see a potential breakout happening soon.
The price is in an important POC (Point of Confluence) zone. We can see that the Point of Confluence consists of M H3 level, the ATR resistance and the Q L3 camarilla. Also we can spot the V Shaped reversal pattern at the bottom. If the price can bounce from the support we could see a continuation of the bullish move. However if we see a move below 130.50 then the bears will prevail.
The target for the upside move is 132.40 while the target for the downside move is 129.10 zone. Watch for possible breakout in any direction. Have in mind that currently JPY currencies are in risk-on mode so trade accordingly
