TechnoMeter

Friday’s NFP report had the potential to re-stoke risk aversion, and price action in the Yen indicated as such in the immediate aftermath of the print as we finally saw prices break below 121.50, printing a lower-low at 120.81 ahead of last week’s close. But since, we’ve seen bullish price action thus far on the new week, and with yet another false down-side breakout in EUR/JPY, traders should approach short-side continuation strategies with caution. On the chart below, we’re taking a look at the ‘bigger picture’ move in EUR/JPY, as defined by a down-ward sloping trend channel that’s caught a considerable amount of EUR/JPY price action over the past eight months.


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