It is sort of in a quandry. It keeps sinking below the top edge of the
main downward , but just above/ finding support (for now)
of the of a very effective & reasonable upward .
Many traders I think are expecting the pair to continue to rise.
If you take into account (really! - try adding them!)
it has probably reached a high point just after , 8.14am (7.14 am UTC) this morning.
My suspicion, what I'm looking out for, is a collapse of the Nikkei tonight.
On the 15 minute chart it has both formed a , and in the process
of attempting to negotiate a form (if you draw lines at the right angle -
low left high right) supporting the idea it is in fact reluctantly going to drop here on.