The head and shoulders
pattern is based on the trendchannel EUR/JPY
is trading in right now, and on Fibonacci retracement
levels serving as support/resistance
. Other supports are double bottoms/tops. Upside target before the end of the week is 136.00, after which price could advance to a maximum of 136.253 (161.8% fib) before declining to the first Fib retracement level of 135.366.