The EURJPY is on the cusp of a breakout.

Whenever we are in a consolidation and at the upper end or lower end of it, we have to prepare for a breakout. In this case, the apex of the triangle is pretty tight and we are probing the downtrend line of tre triangle. A break above could target the 200dma near 121.50 and above that could yield a move above the 122.00 level. As long as above the 120.00 level the case for an upside breakout is building.

Steve Voulgaridis