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HomeContributorsTechnical AnalysisEUR/JPY Bounce Or Break?

EUR/JPY Bounce Or Break?

MultiBank Exchange Group
By MultiBank Exchange Group

The EUR/JPY posted humble gains in the morning and tries to recover after the minor correction. Price developed a Rising Wedge pattern, but this is far from being confirmed, only a valid breakdown will announce a further drop. We have a major support area between the UML and the inside sliding parallel line (SL), a major drop will appear only after a valid breakdown below this area.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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