EUR/JPY 1H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since early April the single European currency has been steadily depreciating against the Japanese Yen. The decline started at a one-month high of 143.50 hit on April 2 and already on April 7 the pair entered a 72-bar long triangle pattern.
At the moment, the pair is on the edge of a bullish breakout since it breached the upper limit of the triangle two hours earlier and as the jump took place not far away from the apex that will be reached later in the day. According to technical indicators, the pair indeed is capable of a sharp advance in the short and medium terms.
© Dukascopy Bank SA
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