UNRPP

EURJPY consolidated on support.

UNRPP Mod Updated   
FX:EURJPY   Euro / Japanese Yen

Monthly overview, we are on the middle of the range here with support at 123.8-9. Price had bounced there twice last week and is now consolidated in vague descending triangle pattern with height of 1000 points.
if it breaks 123.9 we would see price go down to 122.8-123.0,
if it breaks up, expect selling pressure to continue at 125.4-5

Looking at DAX below, the uptrend line in 4hr timeframe has broken and price has been trying to get back above the trend line.

Now wait for confirmation either EURJPY break up or down, keep an eye on DAX
Comment:
Price has reached 125.5 and now consolidating in symmetrical triangle pattern

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.