EUR/JPY broke key support level 131…
EUR/USD: "V-Top" pattern led to decline
The price faced with resistance at 1.1821, so there's a "V-Top". Therefore, the pair is likely going to test the 55 Moving Average in the short term. If a pullback from this line happens little later on, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1742 - 1.1767.
The 89 Moving Average is acting as support, but bears are likely going to reach another support at 1.1724 - 1.1689. This area could be a departure point for a bullish price movement in the direction of the closest resistance at 1.1742 - 1.1767.
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.