Cross-rate signals: EUR/JPY forms a lateral triangle

The EUR/JPY cross last week remains in a sideways trend, thus forming a lateral triangle. As a result, some uncertainty persists in the pair. So, the main support is located at the level of 130.20-00, the breakthrough of which will indicate further reduction of the pair and the formation of the figure “double top”, which in the end will indicate a deeper weakening in the future.

The signal to reduce the cross EUR/JPY will break through the support of 130.10-00, support is located at the levels: 129.80 and 129.50-40. Resistance is located at 130.30-50.

Fig. EUR/JPY. Current price – 130.30

Also, read: “Features of cross-rates”

Hanzenko Anton