The EURJPY has traded higher from its lows and formed a rising wedge formation as visible in this H4 chart. The move has been quite powerful and we believe this pair will rest and contract down to its rising 50 DMA before future upside may be possible. A minor correction from here would be healthy and ensure further upside. MACD has supported the rally and remained in bullish territory, but it started to show weakness during the most recent spike higher. It has formed a negative divergence and suggests that the trend will reverse...
