EUR/JPY has been digesting for the better part of the past nine months. While both Euro and USD strength have been on full display in varying ways over that period of time, each currency has been a bit more balanced against the Japanese Yen.
The range has been wide at more than 800 pips but there's also a descending triangle that's set up along the way, with lower-highs around the 163.38 Fibonacci level and horizontal support around the 155.00 handle.
For those looking for Yen-strength, this may be a more attractive venue than USD/JPY at the moment, with USD/JPY holding below the key 145.00 psychological level. - js
The range has been wide at more than 800 pips but there's also a descending triangle that's set up along the way, with lower-highs around the 163.38 Fibonacci level and horizontal support around the 155.00 handle.
For those looking for Yen-strength, this may be a more attractive venue than USD/JPY at the moment, with USD/JPY holding below the key 145.00 psychological level. - js
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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.