EURJPY is testing the area above the massive consolidation pattern. Given the elimination of the risk premium from safe haven demands, Japanese Yen may get under pressure, which may lead to the breakout from the consolidation, as shown at the chart.
Average True Range indicator had reached yet another bottom signaling decreasing volatility: usually this pattern precedes the sharp volatility increase and may point to trend continuation.
Japanese Yen gets under pressure in May, according to historical seasonal studies: that’s another confirmation of the described scenario.
Don't forget - this is just the idea, always make your own research and never forget to manage your risk!
Average True Range indicator had reached yet another bottom signaling decreasing volatility: usually this pattern precedes the sharp volatility increase and may point to trend continuation.
Japanese Yen gets under pressure in May, according to historical seasonal studies: that’s another confirmation of the described scenario.
Don't forget - this is just the idea, always make your own research and never forget to manage your risk!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.