EUR/JPY broke key support level 131…
EUR/USD: developing triangle in wave 4
There's a pullback from 7/8 MM Level, so we've got a developing triangle in wave 4. It's likely that the price is going to test the lower side of this pattern. If a pullback from this level happens, there'll be an opportunity to have an upward impulse in wave 5.
The price is consolidating between the 5/8 and 2/8 MM Levels. Wave [d] of 4 is about to end, so we could have wave [e] of 4 in the short term. If another pullback from 3/8 MM Level arrives later on, bulls will try to deliver wave [i].
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.