From the looks of it the pair has completed an Expanding Diagonal, therefore I expect a deeper correction to occur if the pair is to continue moving higher up. On the Weekly TF we also have a rather strong Bearish Divergence which is why that could be signalling a deep pullback in the making.
My personal details: Potential Short @ E: 134.50, SL: 135.30, TP1: 128.00, TP2: 122.85, RR: 14.6
For risk and money management purposes, always determine a max. of 2% risk on every trade. For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss. Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market. This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
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a closer look on the EUR/JPY ...Just go to show how easy life becomes by identifying patterns