# EURJPY Descending Triangle (May 13, 2016) Source: https://www.tradersway.com/resources/market-info/eurjpy-descending-triangle-may-13-2016/ Language: en Updated: 2016-05-13 Description: Explore EURJPY Descending Triangle (May 13, 2016). EURJPY has. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURJPY has formed lower highs and found support at 122.25, creating a descending triangle pattern on its 4-hour time frame. Price is currently testing the triangle resistance, still deciding whether to make a bounce or a break. The 100 SMA is below the 200 SMA, confirming that the path of least resistance is to the downside. In addition, the 200 SMA lines up with the top of the triangle and appears to be holding as a dynamic resistance level. Stochastic is on the move down, which means that euro bears are taking control of price action. RSI is also heading south so price could follow suit, taking the pair down to the triangle support once more. A number of reports are up for release from the euro zone today, providing several catalysts for price action. Preliminary GDP readings from its largest economies are up for release ahead of the region’s growth figure, which is expected to show a 0.6% expansion for Q1. Germany is also set to print its final CPI reading while France will report its non-farm payrolls figure. As for Japan, the tertiary industry activity index is up for release and a 0.2% decline is eyed, worse than the previous 0.1% dip. No other reports are up for release from Japan, which suggests that risk appetite could also play a big role in determining direction. ![EURJPY Descending Triangle (May 13, 2016)] Top-tier US economic reports due later on in the day could have a material impact on sentiment. Traders might also book profits before the weekend, as Chinese industrial production and retail sales reports are due on Saturday. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/eurjpy-descending-triangle-may-13-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/eurjpy-descending-triangle-may-13-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurjpy-descending-triangle-may-13-2016/", "headline": "EURJPY Descending Triangle (May 13, 2016)", "inLanguage": "en", "datePublished": "2016-05-13T04:57:31+00:00", "dateModified": "2016-05-13T04:57:31+00:00", "articleSection": "Market Info", "description": "Explore EURJPY Descending Triangle (May 13, 2016). EURJPY has. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/eurjpy-descending-triangle-may-13-2016/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "EURJPY Descending Triangle (May 13, 2016)", "item": "https://www.tradersway.com/resources/market-info/eurjpy-descending-triangle-may-13-2016/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```