The EUR/JPY has begun to show signs of fatigue. The 60-minute chart has begun to congest and although this not necessarily mean the market is going to reverse it could suggest further volatility ahead. The daily chart reflects that the range highs are waiting at between 117.50 and 118.00 which means that the current resistance at 116.90 could be near-term. The small, symmetrical Triangle pattern could set up a momentum opportunity for another push higher…or lower. But since the momentum that got the pair to this point has been bullish, there is will a slight bias to a continuation.
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