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Short

EURJPY- Triangle Breakout Down!!

FX:EURJPY   Euro Fx/Japanese Yen
40 0 3
On EURJPY             1 week charts and since late 2014... market has been in a bearish cycle. All EMA's are over PA and EMA 50 (black) went underneath EMA 200 ( gold             ) lines in late April             of this year. This is called a Death Cross and on higher time frame charts (like this Weekly chart) it means a lot concerning direction of price action. Last triangle break out which will happen starting next week, will be to initially around Support 1st level of 110.767, if this level is broken then last support level or 2nd noted on chart is around 103.577 level.

In my opinion, both will be hit by remainder of 2016. Last two weeks of on this chart were RED or bearish , nothing will stop the bears from continuing to control the major of this PAIR, until next year. Good Luck and Trust Charts.
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