EUR/JPY - Pre-breakout structure

FX:EURJPY   Euro / Japanese Yen
Very tight and confined pre-breakout sructure on the 1 hour chart. If we get a breakout to the downside a move towards 111.000 is likely. A breakout to the downside is more likely in my opinion. If we on the other hand get a breakout to the upside we should see a move at least towards 114.500 (red arrows). A conservative play is to wait for the breakout and enter on a retest of the broken structure.
Trade active: Well, the breakout south never manifested so long it is.
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