Ascending Triangle Chart Pattern on EUR/JPY
October 25th, 2009
The latest trend development on the EUR/JPY currency pair’s weekly timeframe chart shows a strong resistance level formed near 138.56 with a support level being sloped under a rather small angle to this resistance. Thus the ascending triangle chart pattern is formed on EUR/JPY. The pattern looks almost perfect but the problem is that the apex of the triangle is very far away in time, which signals of a pattern’s weakness. Anyway, my recommendation is to buy EUR/JPY when the price closes above th
