EUR JPY is trading within the expanded triangle 13/3/2013

The pair achieved a clear stability around 124.80 in yesterday’s trading, to keep the trading with the open triangle which its range is expanding due to the stability of the trading inside it without surpassing on the next levels: 122.70 support and 126.20 resistance.

Accordingly, the continuation of the fluctuation within the mentioned triangle until surpassing one of those levels to detect the upcoming trend, therefore, we recommend the temporarily neutrality, while according to the risky traders, they can take the bearish bias as a target as long as the mentioned resistance remained intact.

Expected trading range is between 122.70 and 126.20

Expected trend: bearish.