Yen diamond

Assuming eur/jpy is about to rise to uncharted territory, a breakout by yen from its current diamond formation will mean there will be an explosion in euro beyond $1.6. I'm not entirely sure about the cause and effect of all this, but I'm assuming the imminent eur/jpy breakout is an independent phenomenon, which I will explain in my next post.

Yen futures: 1-month