EUR/JPY broke key support level 131…
EUR/USD: bearish "Pennant"
All Moving Averages have been broken, so the price is consolidating. Therefore, the market is likely going to continue moving down towards the nearest support at 1.0655 – 1.0594 in the short term. If a pullback from this area happens, there’ll be an opportunity to have an upward correction in the direction of the 89 Moving Average.
The price is moving in a range between the levels 1.0678 – 1.0639. Also, there’s a “Pennant” pattern, so bears are likely going to test a support at 1.0600 – 1.0594. However, if we see a pullback from these levels, bulls will probably try to reach a resistance at 1.0698 – 1.0678.
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.