EUR/JPY has a pretty bearish setup at this point. On the daily chart it can be observed a Rising Wedge accompanied by some negative signals on the 56 days RSI. A daily close under the lower line would confirm the pattern. The target for a fall would be around 125.00. It is important to consider also the possibility of a rally in case the price will be rejected from this area.
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It was the mythical bull breakout from rising wedge.