Euro Yen (sell within the correction)

The position of the euro yen today creates an opportunity to sell within the current correction.

The 30 minute EMA 100 is now trying to keep pressure on the 136.100 level. And there is a prospect of maintaining this pressure and even a decline to 135.500, where the 200 EMA is located on the hourly chart. Further formation of a correction is possible when moving below 135.500, to the borders of the expected rectangle 134.300 – 134.100 It is still too early to talk about breaking through the correction for the further upward impulse, which is clearly pronounced on the daily timeframe. I believe that the correction is not yet complete.

Confirmatory indicator MACD on the four-hour chart shows a signal of further decline.

But nevertheless, I consider growth above 137.150 as a prerequisite for further growth with breaking through the level of 137.500.