Cross-rate signals: EUR/JPY is near significant support

After a significant decline on Wednesday, the pair EUR/JPY was near the lower boundary of the side triangle, which corresponds to the support level of 134.10-40. In conditions of risk reduction in the market, it is necessary to expect correction of the EUR / JPY pair, which is also indicated by the formation of the “double bottom” figure.

Breakdown by the price of the level of 134.60-80 will open the way to resistance levels: 135.50 and 135.80. Returning a pair under the mark 134.10-00 cancels the strengthening of the cross-rate EUR/JPY. Support levels: 134.00 and 133.80.

Fig. EUR/JPY. The current price is 134.30.

Hanzenko Anton