FX.co ★ EUR/JPY Rising Wedge At Maturity?

EUR/JPY dropped after a failure to stabilize above the 126.75 former high. Also, the failure to reach the upside line signaled exhaustion on the H4 chart. Now, the pair is approaching the uptrend line. A drop below this dynamic support and below the 125.27 former low will suggest selling.

On the other hand, the pair's rise above the 126.80 level may lead to further growth to the 128.00 psychological level. The outlook is bullish, EUR/JPY uptrend is safe as long as it stays above the uptrend line.

• EUR/JPY Trading Tips

Buy EUR/JPY if the price reaches the 126.80 level with a potential target at the 128.00 level.

Sell this pair if it drops and reaches the 125.20 level. The next downside obstacle/target could be represented by 124.00 level.