EUR/JPY: 4-hour

EUR/JPY 4-hour Chart

Is a breakout in sight for EUR/JPY? The pair has been stuck inside a rising wedge on its 4-hour time frame, and it seems that euro bulls are running out of energy to carry on with their rallies. After hitting resistance at the top of the wedge, EUR/JPY is on its way back down as confirmed by stochastic. If the bottom of the wedge acts as support, we might see the pair bounce right back up to test the top again. Otherwise, a downside breakout might be in the works!