EURJPY Analysis, June 11, 2025
EURJPY on the M15 time frame, there are several formations that support the bullish narrative. At the beginning of the uptrend, a bullish candle with a long body is seen, called a bullish marubozu. This pattern shows strong dominance from the buyer's side, because the candle does not have a significant upper or lower shadow. In addition, in the pullback phase that occurs in the middle of the trend, a candle appears like a hammer or bullish engulfing which acts as a small reversal signal and continues the main trend. Moreover, before the price reaches its current peak, there are several small-bodied candles or doji, which indicate a potential correction in the near future. We can try to buy if the price corrects to the demand area at a price of 165.63 with our stop loss placed at a price of 165.40 and our take profit placed at a price of 165.96
