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Forex Trading Technical Analysis (2010/08/04) EUR/JPY Triangle in Uptrend Channel

EUR/JPY (a 4-hour chart of which is shown) as of Wednesday (8/04/2010) has formed a symmetrical triangle consolidation pattern within the context of a parallel uptrend channel extending back to the late June low. The current triangle formation represents indecision and diminishing volatility within this uptrend channel. For more EUR/JPY technical analysis, please click here.

James Chen, CTA, CMT