?The EUR/JPY in the 4H chart shows a bearish breakout from a recent correction rally. This correction rally failed to kill the bearish momentum; the RSI failed to sustain a break above 60, and fell below 40. A break below 30 can help lessen the chance of a bear trap? said Fan Yang, technical analyst at FXTimes.
?The 4H chart also shows a double top broken and heading back towards 109.50 lows. A pullback can surely help confirm, but it may not come, or may be muted. If there is a pullback, look for 111.65 to provide resistance to confirm topping. A break below the recent low near 109.50 should open up 2011 and 2010 lows? Mr. Yang added.
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