Over the past two days, EUR/JPY has shown bullish price action. Although the overall daily trend remains somewhat choppy—as reflected by the moving averages—there is still potential for another push higher and a sweep of the previous day's high, with the next key target around **185.867**.
For today's session, I'll be looking for buying opportunities following a pullback on the 1-hour timeframe. My focus will be on the **38.2%** and **61.8% Fibonacci retracement levels**. Price is currently trading around the **38.2%** level, so I'll wait for a strong bullish rejection or other confirmation before considering a long entry.
If I get the confirmation I'm looking for, I'll start building long positions and target **185.867**.
For now, it's a waiting game. Let's see how the price unfolds, and I'll catch you in the next session.
For today's session, I'll be looking for buying opportunities following a pullback on the 1-hour timeframe. My focus will be on the **38.2%** and **61.8% Fibonacci retracement levels**. Price is currently trading around the **38.2%** level, so I'll wait for a strong bullish rejection or other confirmation before considering a long entry.
If I get the confirmation I'm looking for, I'll start building long positions and target **185.867**.
For now, it's a waiting game. Let's see how the price unfolds, and I'll catch you in the next session.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.