The EUR/JPY has formed a structure which look like a bullish wedge, but we need to pay attention to the direction of the breakout.
131.35 breakout should be targeting 131.65 as the first target. Further continuation up, with a positive momentum should target 132.02-132.20 zone. However if something happens and the bullish wedge fails to provide the breakout to the upside watch 130.87 level. Below, a bearish breakout will happen towards the 130.63 and 130.50 zone.
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Cheers and safe trading,