Looking to break the triangle pattern

  


  • EUR/JPY keeps trading within a side-lined fashion.
  • The potential development of a triangle pattern signals further rangebound.

EUR/JPY keeps the consolidative theme well in place for yet another session on Monday.

In the meantime, and against the backdrop of the ongoing consolidation, a symmetrical triangle pattern seems to be shaping up, while there is still no clues regarding the potential direction of the eventual break.

On the broader picture, the probability of extra losses should stay on the cards as long as the cross navigates below the key 200-day SMA, today at 120.03.

EUR/JPY daily chart

 



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