Monday, May 2, 2011

EUR/JPY Breaks above a Declining Wedge

The EUR/JPY was in a correction after testing 122.00 last week. The rally from 118.50 to 121.85 area was retraced 50% in a declining wedge seen in the 1H chart.

Entering the US session the market broke above the declining wedge, and in the US session, the market is offering a

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