EURJPY Ranging Constriction Prior to Breakout
|The EUR/JPY is trapped within a constriction patterns (rectangle and triangle) and breakout could be expected. Pay attention to levels below.
The price is trying to push above H4 BB Upper Band/D H3 Cam but at the same time its also close to H4 BB Middle Band/D L3 Cam pivot. A breakout above 129.05 will target 129.25. The price needs to break that level in order to proceed towards 129.40 and 129.72. A breakout below 128.30 will target 127.95 and 127.82. Only a breakout below 127.80 will target 127.03.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.