EUR/JPY broke key support level 131…
USD/JPY: Moving Average going to act as resistance
The last “High Wave” pattern has been confirmed. However, if any bullish pattern arrives in the coming hours, the 34 Moving Average is going to be the main intraday target. Meanwhile, if a pullback from this line happens, bears will probably try to test the local low once again.
We’ve got a “Hammer” at the local low. Considering a confirmation of this pattern, bulls are likely going to test the 55 Moving Average, which could be a departure point to another decline.
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.