Razvan

EURJPY - Interesting Triangle

FX:EURJPY   Euro Fx/Japanese Yen
414 6 1
Pretty hard to say what the new direction would be. We have a symmetrical triangle on an up trend, the odds would be for the continuation, but the break of the trend line might be a negative signal. Over the upper line the new target would be 117.00, under the lower one 112.40.
I agree with your downside target of 112.40 area. The same triangle was forming on the 4hr, and I believe it has already broken to the downside.
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It is possible to think about short position
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But at first penetration 113,70 strong support
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The false break to the downside got me. Your upside target was right.
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Razvan matt_forex
Yes but, i was also on the downside. The fundamentals helped the euro today.
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