Triangle on EUR/JPY

Triangle on EUR/JPY

There is an interesting technical pattern on the EUR/JPY currency pair. At the moment, the quotes are consolidating after significant growth since the beginning of this week. The key range is 132.950-133.250. In the trading instrument, a classical figure of technical analysis Triangle (H1 timeframe) has been formed. We recommend you to pay attention to this situation.

If the price fixes above the mark of 133.250, you need to look for entry points to the market to open long positions. The movement is tending to 133.450-134.000. When tracking the position, we recommend using a trailing stop.

Alternative option. The figure of the triangle quite often acts as a reversal formation. If the price fixes below the level of 132.950, the correction of the EUR/JPY currency pair is expected. The target movement level is 132.650-132.500.

by JustForex, 2018.04.26

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
Monetary Policy Statement: What you need to know
Almost every month in the economic calendar, traders can see such events as the monetary policy meeting minutes. As a rule, during the publication of this protocol, the volatility increases sharply. Let's find out what this protocol is and whether it is possible to make money on it.
Read more
Forex Trade in Nigeria: Choosing the Right Timing for Successful Trading
The Nigerian economy is strong and blossoming, so it provides plenty of opportunities for earning, investing, and making more money. Forex trading is one of the ways to multiply your savings, but there are many factors that impact the outcome of your trading. Along with choosing the right currency pair, you need to carefully calculate when to trade (and when not to trade). This article will help you keep track of the best trading periods by the Nigerian time and how to decide when to enter the trades and when to refrain from them.
Read more