EUR/JPY analysis, chart, and trading idea

The trend is upward. The currency pair trades in the 365 and 135 EMA range on the H1. The downward five-wave structure is truncated. The Awesome Oscillator indicator shows bullish divergence, and the Stochastic Oscillator indicator signals oversold.

Trading idea:

Buy on the formation of an ascending wave structure, where wave (A) breaks the sloping channel of the descending truncated structure.

Stop Loss under the local minimum of the descending structure (140.90).

Target levels: 142.20; 144.00.