The EURJPY has formed a very big Bearish Candlestick on the weekly timeframe... This shows a strong amount of energy in the side of the bears.
A head and Shoulder chart Pattern has been confirmed on the daily timeframe.
There's high probability for the price of the pair to be pushed to the 122.760 daily Support.
There after, if this Support is strong enough to hold the price then we should be expecting the pair to start a strong bullish run, but as expected if the price breaks the 122.760 Support then it's headed for the next significant level which is at the 121.117
A head and Shoulder chart Pattern has been confirmed on the daily timeframe.
There's high probability for the price of the pair to be pushed to the 122.760 daily Support.
There after, if this Support is strong enough to hold the price then we should be expecting the pair to start a strong bullish run, but as expected if the price breaks the 122.760 Support then it's headed for the next significant level which is at the 121.117