A descending wedge is forming in this pair. It may have another bounce left in it on the resistance before break up. Or it could head straight up soon.
It could be a big sharp move up to near the 1.15600 area before heading back down
EURJPY looks like a symmetrical triangle has formed witch suggests a continuation down. Watch for breaks in support and confirmation patterns below it.
Alternatively if it breaks above, wait for it to break the major resistance in the downtrend before long positions are taken.
This pair has broken a major support trendline and is looking to be forming a reversal wedge. I am expecting another bounce from the new support of wedge, then a large break down.
Wait for a clean break down to go short.
It will be invalid above the resistance around the 0.72865.