EURJPY soars higher on the back of the triangle break above 130.40/45. This came on the back of USDJPY’s break above the key psychological/option/barrier related 100.00 level. The triangle pattern is now confirmed, which projects a measured move objective of ~600 pips.

Also, keep in mind that prior to the target EURJPY would encounter 132.20/40, which sees the 50% retracement (of 2008-12 decline) and falling wedge measured move objective, highlighted a month ago –


Chart Source: Forex Charts by eSignal