EUR/JPY’s previous 4-hour candle closed at 126.68, confirming an upside break of the sideways channel. Further, the relative strength index (RSI) on the 4-hour chart is reporting a flag breakout – a bullish continuation pattern. So far, however, the breakout on both the price chart and RSI has failed to accelerate the preceding bullish move from 124.27 to 126.57. That said, the pair is holding above the upper edge of the channel, meaning the breakout is still valid. Hence, a rally to resistance at 126.94-127.00 could happen in the next few hours. The bullish bias would be invalidated if the spot re-enters the sideways channel. 4-hour chart Trend: Bullish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Australia: February Cashless Retail Sales Index likely to grow by 0.3% – NAB FX Street 4 years EUR/JPY's previous 4-hour candle closed at 126.68, confirming an upside break of the sideways channel. Further, the relative strength index (RSI) on the 4-hour chart is reporting a flag breakout - a bullish continuation pattern. So far, however, the breakout on both the price chart and RSI has failed to accelerate the preceding bullish move from 124.27 to 126.57. That said, the pair is holding above the upper edge of the channel, meaning the breakout is still valid. Hence, a rally to resistance at 126.94-127.00 could happen in the next few hours. The bullish bias would be… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
