EURJPY Ranging Constriction Prior to Breakout

Nenad Kerkez Top-XE

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.

Author

Nenad Kerkez

Top-XE

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