$EURJPY –Wedge

Cross is building a large wedge after a strong up trend.  This usually is bullish for the cross and we would expect a breakout to the north. We have tested this breakout multiple times without success.  Cross is seeking support for another run at the breakout.  Support may be found here 112.38 of deeper at 112.24.  A breakout targets first the double top at 112.90 with the S3 target at 113.27.  Expect stalling at the 113.00 psychological number.  A breakdown targets the support at 111.95.