EURJPY made double bottom & finally closed above the entire consolidation pattern on a weekly basis. Does it signify a Major Reversal pattern? IMHO, it can. Since last 4 days it is testing previous swing high of 134.45. I have seen many breakouts whereby currency pair makes 2 to 4 days of dojis at a previous swing high range like EURJPY is doing now and then woosh and there is no turning back. If it happens, I am ready for it. But stochastics are pointing down: daily stochastics has rolled over and weekly is rolling over. Then, a very short term short can be attempted on the breakdown of the current range at 113.40 will be in play to target 113.97 & reverse to long at 113.93.
Charts to follow...
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