Last week I talked about a potential breakout opportunity on EURJPY. The pair has now spent more than two months consolidating within this 240 pip range between 120.90 and 123.30. When I wrote about this last week I was favoring a downside break. Here’s what I wrote: In the case of EURJPY, I like the idea of shorting the pair following a daily close below range support at 120.90. The reason for this is two-fold. On the one hand, the EURJPY has been trending lower since February of last year. As such, I favor selling the pair until the trend changes. And on the other, EURJPY appears to have failed to rally off of last ... (full story)