rising wedge breakout !
It looks like EUR/JPY is aiming for more gains as it broke past the top of its rising wedge consolidation pattern visible on the 4-hour time frame. This formation is a little over a 300 pips tall, so the resulting uptrend could be of the same height.
If you look close enough RSI is dipping in overbought area, if buyers need gather more steam, a pullback to 133.00 or 132.30 levels could draw more euro bulls in.
the market could reach 136.00 level by the end of the week !
It looks like EUR/JPY is aiming for more gains as it broke past the top of its rising wedge consolidation pattern visible on the 4-hour time frame. This formation is a little over a 300 pips tall, so the resulting uptrend could be of the same height.
If you look close enough RSI is dipping in overbought area, if buyers need gather more steam, a pullback to 133.00 or 132.30 levels could draw more euro bulls in.
the market could reach 136.00 level by the end of the week !