EURJPY Holds Above 174.50: Bulls in Control

[TradingPuzzles]

EURJPY Holds Above 174.50: Bulls in Control

Two days ago, EURJPY broke through a strong resistance area near 174.50.

The fact that price is holding firmly above this level strengthens the bullish setup.

EUR remains strong for now, and the pair could extend its short-term upside toward 175.20 and 175.70.

However, we should stay cautious of an old structure visible on the weekly chart. If the price manages to break above that area, further gains are possible. Until then, some caution is advised.

You may find more details in the chart!
Thank you and Good Luck!