EUR/JPY 1H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/JPY formed an ascending triangle pattern in the end of December when it started to retreat from a five-year high of 143.11.
Now the pair is trading not far away from the triangle apex, implying that the breakout is likely to appear before long. The direction of the breakout may be bullish given the type of the triangle and the SWFX data showing that 65.22% of market participants bet on appreciation of the pair. Meanwhile, technical indicators neither support nor gainsay this view, being neutral for short-to-long term.
© Dukascopy Bank SA
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