EUR/JPY reveals junior pattern

The previous review of the EUR/JPY currency exchange rate concentrated on the fact that the currency pair had passed the resistance of the monthly pivot point at the 132.67 level. It was expected that the pair might continue the surge. However, that did not become reality, as the pair began a sudden decline almost immediately after the publication. 

During the decline the pair moved down to the lower trend line of the dominant pattern before rebounding and suddenly scoring new high level on Monday afternoon.

In addition, during these fluctuations a new medium term pattern was revealed.

EURJPY

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