After consolidating between 131.80 and 134.40 for nearly two months, the EURJPY has finally broken down. It’s something we’ve been watching since the pair formed what appears to be a double top late last month. With Wednesday’s close at 131.48, traders can begin watching for selling opportunities. As long as the level holds as resistance on a daily closing basis (5 pm EST), the 129.30/40 support area remains exposed. Keep in mind, however, that yesterday’s break occurred during lighter than usual volume. Today’s U.S. holiday has triggered a liquidity drain this week that could affect the validity of breaks like this ... (full story)