EUR/JPY broke key support level 131…
EUR/USD: time for wave (ii)
There’s a pullback from +1/8 MM Level, so wave 2 has been ended. Also, we’ve got a bearish impulse in wave (i), which means bulls are likely going to deliver a local correction. Nevertheless, there’s an opportunity to have wave (iii) soon.
As we can see on the one-hour chart, we’ve got wave v of (i), so there’s time for wave (ii). The main bullish target is 5/8 MM level, which could be a departure point for another bearish wave.
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.