FX.co ★ EUR/JPY in range pattern

EUR/JPY: Deeper Drop Could Be Invalidated!

The EUR/JPY pair dropped below the uptrend line signaling a potential downside movement. The rate turned to the downside but it has failed to reach the 140.56 former low which stands as a downside obstacle.

In the short term, it's trapped between the 140.56 and the 142.23 levels. Technically, escaping from this pattern could bring us new trading opportunities.

EUR/JPY Trading Conclusion!

Dropping below 140.56 activates more declines while jumping above 142.23 could announce further growth.