EUR/JPY 1H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/JPY has been on a down-trend since the middle of September, when the pair failed to consolidate above the 141 mark. Since the pair could not find a bullish impetus it was forced to enter a downward trend. At the moment, the pair is challenging the upper trend-line of the pattern. At the same the 4H and daily technical indicators are pointing to the south, thus suggesting that the bearish trend is likely to continue. Additionally, the previous minor low was also this year's low. We expect the pair to decline towards the 135 level once again, after approaching pattern's resistance at the 136 mark.
© Dukascopy Bank SA
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Wed, 15 Oct 2014 15:31:07 GMT

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