EUR/JPY broke key support level 131…
EUR/USD: "Pennant" led to form new high
There's a "V-Bottom" pattern, so the price reached the nearest resistance at 1.1772. Nevertheless, the market is likely going to achieve the 89 Moving Average in the short term. If a pullback from this line happens, we could have a decline towards the closest support at 1.1714 - 1.1688
The last "Pennant" pattern led to form a new local high. Also, we've got a bullish "Flag", so the pair is likely going to reach another resistance at 1.1831 in the coming hours. However, if a pullback from this level happens, there'll be an opportunity to have a decline in the direction of the nearest support at 1.1739 - 1.1714.
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.