You would be well advised to confirm the breakout that has just occurred – do you believe the move through resistance to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 161.9596 but consider reducing the size of your position as the price gets closer to that target.
After testing resistance twice in the past, EURJPY has finally broken through. Can we expect a bullish trend to follow?
