EUR/JPY – Bullish break from triangle pattern

Despite pair’s bullish break from triangle pattern caution is warranted since the pair is nearing a critical resistance area around 116.00 handle… that too at a time when hourly and 4-hr indicators are overbought

Hence, we could see a usually shakeout post Breakout i.e. re-test of triangle support around 114.85 before a convincing break above 116.00 happens.