EURJPY is breaking the consolidation wedge
ERUJPY is breaking above 124. For an upside continuation and a higher probability of the long trade entries, we need to see a confirmed break above this level. A rejection here is required for a downside reversal and a test of 122.50. The overall medium-term is an uptrend but we need to see a confirmed break above the 126.40 to see extension upside. This break is important for an attack on a crucial upside resistance 126.40.
Note – We are inclined to long trade entries with the stop loss below 123.70
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