EUR/JPY Price Analysis: Beas looking for a break of sturtcure near 142.80/00 EURJPY Technical Analysis
From an hourly perspective, EUR/JPY is coiled at what could be a meanwhile top in the broader bullish trend as per the daily chart below.
A thesis could be that volumes might get trapped up high as higher time frame traders and investors chase the breakout of the prior month's highs. In such a scenario, a long squeeze could be put on a break of the key support structure that is located between 143.00 and the 142.80s. If this area were to break, it would clear the way for lower lows in what could turn out to be a sizeable correction as the following shows:The daily chart's W-formation is compelling and a 38.
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