 Hello, welcome to this chart update from CMC Markets just having a look at the the euro yen chart here You can see we've got the the daily candlestick chart in front of us We've basically been struggling to get through 122 on the downside for euro yen. You can see we've got this downsloping trend line, which is nicely defined from these three peaks Previously in our chart forum here You can see that we mentioned there was a possible rebound to 124 60 that pretty much pipped the top quite Nicely here. That was the sixty one point eight percent retracement of this big leg lower here Discounting that little false break basically use this low worked pretty well And then just this pivot point from this sharp reversal here Also this sharp reversal in this candlestick kind of suggested actually just shy of this 125 mark Which is obviously a big round number was significant to the market proved to be the case and we've dropped since then we've rebounded from 123 or just below it now the reason I'm highlighting the situation at the moment is if we drop down to a four-hour chart We can see we're getting to a situation now where we're actually in a bit of a triangle pattern so This basically is the top line of the triangle here You could extend it up to this line up here if you so desire keep it down here keep it neat And you can see on the bottom side We have two two bottoms here Again, you could extend it down to stand it down lower. It doesn't work quite as well But still fairly effective. What you can see is we're breaking down through the bottom of this triangle pattern at the moment So Really suggesting that maybe this drop from 124 60 that we originally highlighted has had a had a bounce from below 122 but it's struggling to make any headway higher and now it looks like it could be beginning to roll over and 122 is the big support level and if we are going to get a concrete drop through this triangle pattern It could suggest another drop down to 122 and below again if we pull up to this daily chart We can kind of see the triangle just according to daily candles So we've had the one two three touches on the bottom What we really want is a close below today to confirm this break lower And that could signal a possible drop down to as I said one down to 122 or even this 122 121 70 which marked the bottom of that large for What we had 300 pips lost in one day and we fell the following day Also worth noting we've got the RSA on the chart here. We're still above this rising trend line on RSI Showing a bit of bullish divergence on the longer term But we are failing to to get back above the 50 mark suggesting some some bearish momentum So worth watching the the close for today We get a close below that lower trend line Cook signal that we're going to roll over again alongside this this longer term trend Which we find ourselves belief the 200 day moving average and beneath that declining trend line Okay, thanks a lot at CMC markets in our chart update signing out