The downtrend on the EUR/JPY's daily chart has begun to squeeze into the narrow range of a Falling Wedge pattern. This squeeze is also slowing downtrend momentum (confirmed by Autochartist's two-bar Initial Trend reading), opening up the possibility for reversals on the intraday timeframes. Consequently, the Channel Down pattern on the 240-minute chart may be presenting a reversal buy entry... moreThe downtrend on the EUR/JPY's daily chart has begun to squeeze into the narrow range of a Falling Wedge pattern. This squeeze is also slowing downtrend momentum (confirmed by Autochartist's two-bar Initial Trend reading), opening up the possibility for reversals on the intraday timeframes. Consequently, the Channel Down pattern on the 240-minute chart may be presenting a reversal buy entry - if, that is, prices can rally through downtrend line resistance at 109.55. view page