The EUR/JPY is very bullish. We can see the price moving unidirectional to the upside.
As the price is breaking above all the resistance levels we can see the logic of the trade. EUR/JPY Inside Bar Implosion entry by Megatrend Price Action Trading. Inside bars usually indicate a stalling market which precedes a breakout or implosion. IB setups often occur within markets which are trending and are the cue for a trend continuation. 129.55 is the entry.
Projected target is between 4:1 or 5:1 R:R at 132.95 -133.80.
The Analysis has been done with the Black Widow system.