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HomeContributorsTechnical AnalysisEUR/JPY Rising Wedge To Be Confirmed

EUR/JPY Rising Wedge To Be Confirmed

MultiBank Exchange Group
By MultiBank Exchange Group

The EUR/JPY dropped and resumed the yesterday’s minor drop. You can see that is the rate is pressuring the downside line of the Rising Wedge and looks determined to breakdown from this chart pattern. I’ve said that a valid breakdown from this pattern will signal another leg lower in the upcoming period, the first downside target will be at the upper median line (UML) of the major ascending pitchfork.

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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