EUR/JPY 4H Chart: Rising Wedge

Pair has been in a uptrend for quite some time. But as we can see from a recent pullback, higher levels are still unreachable for the pairs bulls. In this particular case we should highlight major psychological level (September high) at 135 JPY. At the moment it seems very likely that the short term sell off at hand could send the pair even lower—132 JPY, which kept the pair supported after the recent test of the pattern's boundaries, could be a good interim target for that. That would mark a complete end of the pattern. In larger scale, pair should remain sort of range bound—technical indicators on aggregate give indications of this.