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EUR/JPY Attracted By Confluence Area

Price edges higher again and is almost to hit the confluence area formed by the upper median line (UML) with the upper median line (uml) of the minor descending pitchfork. A valid breakout will accelerate the upside momentum and will invalidate the minor Head and Shoulders pattern. Only a rejection from here will keep the a bearish bias on the short term.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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