EUR/JPY: bears prepare a decline
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On the daily chart, EUR/JPY the break of diagonal support (lower border of the uptrend channel) was a signal for correction towards 88.06% target of the “Shark” pattern. However, bears have to meet 2 conditions. Firstly, hold the pair below 128.50. Secondly, pull it below support at 127.50.
On H1, EUR/JPY is moving towards 224% and 88.6% targets of “Shark” pattern. They correspond to 127 and 123.40. To resume the uptrend, bulls have to return the euro above 129.50.
