Mihai_Iacob

Have EurJpy topped?

Short
OANDA:EURJPY   Euro / Japanese Yen
From the recent low under 140 and the important 143 resistance break, EurJpy has risen more than 1000 pips.
However, in the past months seems like the pair lost its power to the upside and could enter in a range trading phase with a top above 150 and a bottom slightly under 147.
The price action in the past 2 trading weeks is drawing a H&S pattern on our charts and in a case of a break under the 148.50-148.70 zone, this pattern is confirmed.
The target in such an instance is, as said, in 147 zone and negation comes with a daily close above 150.

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