EURJPY Carving Out Triple Top Since April

Published August 20th, 2009 - 01:26 GMT
Al Bawaba
Al Bawaba

A massive triple top / head and shoulders top (which is a type of triple top) may be playing out in the EURJPY.  Tops in April, June, and August leave the pair vulnerable to a sharp decline in the weeks and months ahead.  A bounce is possible if not probable near term.  Initial resistance is 134.85.  The 61.8% of the recent decline is 136.24.