The Pair is trading in a range at lower levels. The Pair is consolidating between 134.80-134.40, we need to wait for the Pair to break beyond this level, if the Pair is able to break on either side, following are the conditions which need to be followed.

If the breakout is on the upside the Pair has to close above 134.80, wait for one candle to close above this level, if it is able to close above the mentioned level start buying.

If the RSI is trading above 73 ignore the breakout.

If the breakout is on the downside the security has to close below 134.40 levels, wait for one candle to close below the level, if it is able to close below the mentioned level start selling.

EUR/JPY

May 14 2022