EUR/JPY broke key support level 131…
EUR/USD: bearish "Shooting Star" pattern
The bullish trend is still on the table, but we've got a bearish "Shooting Star" pattern, which hasn't been confirmed yet. Therefore, the market is likely going to test the nearest support level, which could be a departure point for another upward price movement.
There are bullish patterns such an "Engulfing" and a "High Wave", but their confirmation is a quite weak. So, bears are likely going to test the 89 Moving Average. If a pullback from this line happens, there'll be an opportunity to have a bullish correction.
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.