Waiting For A Breakout Of EURJPY

FX:EURJPY   Euro / Japanese Yen
EURJPY             is getting ready to break one way or the other, although the long-term trend is to the downside we can't rule out a move higher. Our algorithm will be watching this pair and giving us an update on a daily basis. We will be waiting for a close above the green downtrend line or a close below the red uptrend line. Ideally we would like to get a reading from our algorithm of 85% or higher probability confirming the move higher or lower.

Targets higher will be 129.500, 131.000 and 132.000 Targets lower will be 124.500, 123.500 and 122.000 The closer this pair gets to the apex before breaking out the stronger the move will most likely be when it occurs. Below is a chart of our algorithm:


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