EUR/JPY broke key support level 131…
EUR/USD: wave (ii) started
Wave (i) has been formed, so there’s time for a local correction. Previously, wave 2 was ended in a form of a zigzag. The main intraday target is 8/8 MM Level, which could be a departure point for wave (iii).
As we can see on the one-hour chart, there’s a bearish impulse in wave (i). So, we could have wave (ii) in the short term. In this case, bulls are likely going to deliver wave c of (ii) soon.
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.