EUR/JPY broke key support level 131…
EUR/USD: price broke the "Wedge"
The price has broken the upper side of a "Wedge" pattern. So, the market is likely going to test the nearest resistance at 1.1846 - 1.1875 in the coming hours. If a pullback from these levels happens, there'll be an opportunity to have a decline towards the 34 Moving Average.
All the Moving Averages lines have been broken, so the price is consolidating. It seems like we've got a developing "Flag" pattern. In this case, we should keep an eye on the next resistance at 1.1823 - 1.1845 as an intraday bullish target.
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.