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EUR/JPY Triangle in Uptrend Channel

posted by Avatar jameschen 661 days ago in EUR, JPY, Technical made popular 661 days ago

EUR/JPY (a 4-hour chart of which is shown) as of Wednesday (8/04/2010) has formed a symmetrical triangle consolidation pattern within the context of a parallel uptrend channel extending back to the late June low. The current triangle formation represents indecision and diminishing volatility within this uptrend channel.
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