EUR/JPY broke key support level 131…
USD/JPY: possible "Three Methods" pattern
There's a possible "Three Methods" pattern, so the price is likely going to continue moving down. If any bullish pattern arrives little later on, there'll be an opportunity to have an upward correction.
There's a developing bullish correction inside the main bearish trend. The 21 Moving Average is likely going to act as resistance during the day. If so, bears will probably try to deliver another decline afterwards.
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.