Friday, March 30, 2012

EUR/JPY Emerging patterns 4H Chart Rising Wedge

EUR/JPY Emerging patterns 4H Chart Rising Wedge


EUR/JPY was consolidating during the last 173 bars, forming a Rising Wedge pattern on 4H chart. The formation has 76% quality along with 66% magnitude.
The price slowed near its support level around 109.23 and tried to break it, but failed to do so.  Pair was trading in a tight range after testing the level and now it has a possibility to get back into initial area. Read more