EURJPY - 240 - Watch the breakouts from the triangle.
Forming a triangle here, so that means the pair is getting squeezed and there should be a pop to one of the sides. I won't be surprised, if it will stay stagnant till Friday's NFPs. But then again, anything could happen.
No, I am leaning more to the BUY side, as we will look at the graph on a bigger time frame, like the Daily, then we could try and class this triangle formation as a pennant, which could be a continuation indicator. So, potentially, we could see a move higher.
I wouldn't recommend entering any positions right now, but you could observe the potential break out levels on the triangle.
As always, be careful and keep an eye on the price action!
No, I am leaning more to the BUY side, as we will look at the graph on a bigger time frame, like the Daily, then we could try and class this triangle formation as a pennant, which could be a continuation indicator. So, potentially, we could see a move higher.
I wouldn't recommend entering any positions right now, but you could observe the potential break out levels on the triangle.
As always, be careful and keep an eye on the price action!