It has been a while since we last looked at EUR/JPY, but then we have seen a triangle developing since late December 2022. This triangle is, however, nearing its completion. So, we should see a breakdown anytime now towards our long-term target near 134. This price action should complete the correction from 148.30 and set the stage for a new push higher towards this top and ultimately above here too, but for now, we will focus on the expected breakdown and a decline towards 134.
Short-term a break below 140.53 will indicate that the triangle has been completed and the expected decline to 134 is in progress.
Relevance up to 07:00 2023-02-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
