By
James Chen |
Technical Analysis | Aug 04, 2010 06:40PM GMT |
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.
James Chen, CTA, CMT
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