Currently the cross is at resistance @ 1.3450. Looking for it to go through and tag the 1.3500 (even number) and possibly the 1.3541 resistance. Next target is 1.3574 (R7). Downside risk is to the 1.3253.
EurJPY took a while to break from our post yeseterday. Two possible scenarios today. 1) break to the south to the trendline and then the 111.21. 2) Build the right shoulder of a head and shoulders pattern before breaking to the same targets. Upside risk to 113.54.
EurJPY currently in a rising wedge which is bearish for the cross.It is near the fourth resistance area ( R4) which is also resistance from the 240 chart. Watch for a pullback at that area. Downside risk to 112.91.
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WHAT ProAct Traders SEE: We have come up almost to the .786 fibo (still a chance to take it officially out). We are at the top of the channel so looking for the week to start in a bear move down. Upside risk is 1.3200. Downside targets are 1.2874 -1.2800 and 1.2600.
Markets are waiting on Prelim/Consumer sentiment. Technicals prior to that indicate: We have reached the top of the channel and have a pullback. A bounce on the channel line targets the double top @ 1.3161. Break of that channel targets the .382 at 1.2932.