EUR/JPY has formed a Triangle pattern on the 1H chart. The pattern has 88% quality and 77% magnitude in the 98-bar period. The pattern began on 7th of February when the pair dipped to 123.43; currently it is trading at the 200 and 20-bar SMAs at 125.66/69. Trading volume seems to be decreasing in the length of the pattern. Technical indicators on aggregate point at appreciation of the pair on 4H and 1D horizons suggesting it should breach pattern upwards. Long traders could focus on the
