In the morning Asian session yesterday, EURJPY progressed upward from 133.50 to just below the 134.00 level. It forms a horizontal channel that was falsely broken down during the hour before Europe open. At that stage, prices form a spinning top candles indicating a tussle between sellers and buyers.
A high close doji at European open push prices to the upper line of the channel and again a false break occurred at the top channel and at the 134.00 level. A low close doji reverse the up moved that end with a doji again. A high doji bumped up the price on the upside and a genuine penetration of 134.00 occurred at 9:20 (8:20 GMT). EURJPY subsequently shot up .
