There is already signs of hidden bearish divergence on the H4 chart. It looks like the pair might be going for something that reminds a triangle. On the H1 chart we do have bearish divergence as well. One way to join the bears will be to wait for a breakout below the up trend line spotted on the M15 chart along with the most recent low.
Pair has almost reach a double wave duplication zone which also coincides with the last spike on daily chart around 1.1700. Once the pair reaches this level and creates a bearish candle pattern, go for a sell protecting last high to be created and aim 1.1550 as first target. Second target should 1.1250
The pair has created a bullish convergence. At least in the shorter term i think the EURJPY is going up. So wait for a double wave correction down near the 50% fibonacci retracement zone and a bullish candle on the M15 chart in this area in order to get into a buy.
Target 1: 128.00
Target 2: 128.80
SL: below 127.80
There is a double wave down which will
be completed very soon.
There is also bullish trend line waiting for
the pair
Target 1: 0.6400
Target 2: 0.6700
Stop Loss: Below the trend line and
support area.
