EJ Falls Into A Wedge

EURJPY has formed a Falling Wedge with Lower Highs into Lower Lows!

Price has tested the Falling Support three times with the Falling Resistance, so far, only tested twice.

Typically a Falling Wedge delivers a Bearish Breakout with price falling to the downside!

If price does make a rise, we should look for it to make a third test of the Falling Resistance and if successfully rejected, we could see price drop back to the Falling Support.

Regardless, once price makes a valid Breakout of either leg and Retests, this will generate trade opportunities to take to either the Overhead Resistance or Underlying Support levels!