Hello,
In the EurJpy pair we see a formed Head & Shoulders pattern, rising indicator MACD proves that. Price had a correction to check its new support level at ~124.00. It's almost at the patterns neckline. If the price breaks through 127.90 resistance it may go to 130.00. On the other hand there is a possibility that Head & Shoulders pattern will fail. And if price breaks down through ascending support level, we should look for new support at price level around 121.00.
In the EurJpy pair we see a formed Head & Shoulders pattern, rising indicator MACD proves that. Price had a correction to check its new support level at ~124.00. It's almost at the patterns neckline. If the price breaks through 127.90 resistance it may go to 130.00. On the other hand there is a possibility that Head & Shoulders pattern will fail. And if price breaks down through ascending support level, we should look for new support at price level around 121.00.
In EurUsd we see a forming double bottom pattern with bullish divergence with MACD. That means that if price breaks through the trend-line (it most likely will happen) the price may rise to 1.38 or even greater levels. But if all of this fails, we get a descending triangle and the bearish market will continue towards 1.30.
Thank you for reading and remember - everything is just my opinion. :)
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