EUR/JPY (a 4-hour chart of which is shown) as of Monday (8/23/2010) has furthered its bearish drop after breaking down below a large descending triangle late last week. The continued bearishness after this triangle breakdown has closely approached the multi-year low at 107.30 that was hit in late June. For more EUR/JPY forex technical analysis, please click here.

James Chen, CTA, CMT