Bullish: EUR/JPY has been on quite a bull run since the July 2012 low just under 94.00. The daily chart shows a market that has persistent bullish momentum with the RSI tagging above 70 and holding above 40. Triangle: As we start the new year, it has reached the 116.00 handle, but is now stalling under it. The 1`H chart shows the coiling of EUR/JPY after the late December swing from 113.19 to 115.97. True breakout: A true breakout from the triangle is not just the converging trendlines. That would be an initial sign of direction. However, especially if it is against the previous trend, which is up, it can often be a ... (full story)