EURJPY - Everyone is yelling long

FX:EURJPY   Euro / Japanese Yen
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I agree that the main down trend might have finished. Japan needs badly to depreciate the yen, but the easing will start in 2014, or July this year, still some months till then. If we look at the technical view, we can see that a new HH it was made, the 28 RSI might enter in the mega overbought zone this time, but we still need a HL to confirm the reversal. The price is closing in to a good resistance zone formed by the 50% retrace and the price target for the Falling Wedge pattern. It is about time we should pay more attention to the bearish signals.
Looks like the corrective move have started...111 - 112 zone would be interesting to follow.
Sounds like you're describing a throwback. Wedge throwbacks are always interesting to follow. Take out the weak hands before price achieves ultimate measured destination.
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