Last week price in EurJpy pair failed to break resistance level at 127.90. So I think that the Head and Shoulders pattern failed. It may be due to improving economic indicators in US and deteriorating economic situation in Euro-zone due Greece problems. For now if the price will not break through 123.44 support (red dashed line) it may continue going up towards 129.00-130.00 price level and forming a Flag pattern. Otherwise, breaking support at 123.44 will continue with a bearish market towards 120.00.
In EurUsd price did break through the descending trendline, but did not manage go to level 1.38. It may failed due same reason as EurJpy pair failed. For the next week, breaking through descending trendline may start a formation of descending triangle (if the support at 1.326-1.333 level will hold the bears), which indicates continuing bearish market. Otherwise it may find its new resistance at 1.36, and breaking this level may continue price movement towards 1.38.
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