EUR/JPY M15 Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank
© Dukascopy Bank SA
EURJPY has formed a triangle on M15 chart. The pattern has 43% quality and 80% magnitude within 138 bars. This is a short-term pattern which started at 13:30 on March 6th. Bears tried to break support level 105.84 but were unsuccessful. Afterwards the pair commenced recovering, though future perspectives are yet uncertain. Nonetheless, there exists a high possibility of consolidation continuation. The initial resistance and support levels are at 106.27 and at 105.84, respectively. Positions may be opened once these lines are breached.
© Dukascopy Bank SA
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Tue, 13 Mar 2012 08:02:20 GMT

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