I’ve been staring at the reversals on the charts today and trying to figure out what they mean but I’m finding it tough to believe in some of those moves.

What I can believe in is this chart:

EURJPY daily

EUR/JPY daily

I’ve mentioned this chart before and it will inevitably break in the week or two ahead.

When the break comes, it will last. This pair — maybe more than any other — attracts fast money so momentum tends to last. With the ECB decision coming May 8, will that be the catalyst?